topic Re: Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal in Credit in the News

Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

gdale6 — Wed, 09 Sep 2020 21:48:50 GMT

U.S. mall owners Simon and Brookfield are close to finalizing an $800 million deal to rescue J.C. Penney from bankruptcy.
The deal would avoid a total liquidation and save about 70,000 jobs and 650 stores, Joshua Sussberg of the law firm Kirkland & Ellis said Wednesday afternoon during a court hearing.

https://www.cnbc.com/2020/09/09/simon-brookfield-to-save-jc-penney-from-bankruptcy-keep-650-shops.html

Re: Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

Anonymous — Thu, 10 Sep 2020 17:24:10 GMT

While it's good for those who would have lost their jobs, and it helps keep a Buisness inside the Mall. I feel it's still only delaying the inevitable.

One might say that Mall are dieing out as well, especially in a new post pandemic world and where Amazon is King and still growing. Plus with each new generation that wants everthing by the touch of their phone I don't see it the odds improving in brick and mortar's favor.

Though i personally don't shop JC penney, nor are they a draw for me when at the Mall. I do hope that this move helps somehow keep both entities going for longer than i expect it to.

Re: Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

M_Smart007 — Fri, 11 Sep 2020 03:16:24 GMT

@AverageJoesCredit, Will be happy .. His JC Penney card will stay open

Re: Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

ChargedUp — Sat, 12 Sep 2020 08:43:30 GMT

Hopefully the new owners will put some effort into revitalizing the brand. JCP at one time offered everything from electronics to hardware to car maintenance, not to mention their massive catalog. Quite similar to Sears and Montgomery Ward in their heydays.

While Eddie Lampert continues to pick away at the carcass of Sears, JCP needs to make the most out of its new found cash and find new avenues to bring back foot traffic and make sales. With Simon being a part owner, this will undoubtedly shrink lease payments for a lot of the physical stores, adding a tactical advantage, but Simon also needs to reinvent the mall itself to make this partnership lucrative. With Covid dragging on and on, it's going to be an uphill battle into the foreseeable future.

Re: Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

Anonymous — Sat, 03 Oct 2020 00:47:37 GMT

Yeah, and I'm sure the mall owners financials are in tip top shape. This won't end well, except for the lawyers and financial scavengers.

Re: Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

stonedog23 — Mon, 19 Oct 2020 02:41:51 GMT

In the midst of covid, my local mall has been going through massive reconstruction and expansion. It's bringing in new stores and restaurants and creating the campus atmosphere with some detached business. I live in a small market, but is a tourist destination especially in the spring and summer.