Why Is JCPenney Selling Stores?
JCPenney is unloading 119 store properties in a $947 million deal — but not because it’s shutting them down. The retailer handed off its real estate years ago when it filed for bankruptcy in 2020, and this is just the latest round of selling.
The properties are owned by Copper Property CTL Pass Through Trust, which was created specifically to help pay off creditors after JCPenney’s collapse.