JCPenney sale turns troublesome as buyer claims seller is undermining the $947 million transaction
Legal Battle Over J.C. Penney Store Sale Heats Up A significant legal dispute has emerged surrounding the planned sale of over 100 J.C. Penney stores, with Onyx Partners claiming that Copper Property Trust intentionally derailed the deal to pursue better offers. This high-stakes lawsuit was filed recently in Manhattan Supreme Court. Onyx alleges that Copper […]
More than 100 JCPenney locations have been sold: What’s next?
(Nexstar) – A significant change is on the horizon for JCPenney, as Onyx Partners, Ltd., based in Boston, has reached a deal to sell 119 of its properties. Copper Property CTL Pass will acquire these locations in a deal valued at $947 million, with an all-cash transaction expected to finalize by September 8th. The proceeds, […]