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“#Paul McCartney weighs in on JCPenney CEO search” Paul McCartney wants JCPenney to get by with a little help from his friend. The former Beatle recently introduced his longtime buddy and retail honcho, Herbert L. Becker, to the new owners of the bankrupt department store, suggesting him as a candidate for the CEO job, The…
“#JCPenney starts search for new CEO as Jill Soltau exits” JCPenney said on Wednesday new owners Simon Property Group and Brookfield Asset Management have begun a search for a new chief executive officer to replace Jill Soltau. Soltau, who joined the struggling retailer about two years ago, will leave the company on Dec. 31. Simon’s chief…
“#JCPenney exits bankruptcy with sale to biggest landlords” JCPenney exited bankruptcy just in time for the holiday shopping crunch — in an unusual deal that leaves a downsized department-store chain privately owned by its biggest landlords. The 118-year-old retailer exited Chapter 11 on Monday, bought by Simon Property Group and Brookefield Asset Management, in a…
“#JCPenney set to emerge from bankruptcy after court approval” J.C. Penney is on course to emerge from bankruptcy by Thanksgiving, after a US bankruptcy court approved the sale of the ailing 118-year-old retailer to its two largest landlords and its primary lenders. The US Bankruptcy Court for the Southern District of Texas approved a purchase…
“#JCPenney’s new owners reject a $3.2 billion pension plan” JCPenney is getting rescued from bankruptcy in a plan that stands to worsen its workers’ nest eggs. The century-old department store’s soon-to-be new owners said they don’t plan to take control of the retailer’s pension promises to some 52,000 current and future retirees, according to court…
“#JC Penney sees bankruptcy protection exit by Christmas” JC Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would save tens of thousands of jobs. The beleaguered, century-old retailer said Wednesday that it has filed a draft asset purchase agreement with the two biggest mall owners in the…