J.C. Penney reaches tentative rescue deal with Simon Property & Brookfield
NEW YORK: J.C. Penney Co Inc reached a tentative deal with landlords and lenders valued at $1.75 billion to rescue the beleaguered department store chain from bankruptcy proceedings, averting a liquidation that would have threatened roughly 70,000 jobs and represented one of the most significant business collapses following the coronavirus pandemic, a company lawyer said. […]