An empty parking lot is shown at a closed JCPenney store in Roseville, Michigan, Friday, May 8, 2020.A lawyer for JCPenney said in a bankruptcy court hearing Monday that discussions with three bidders for the business had reached a "stalemate." "We can no longer stand idly by and allow for negotiating postures to stand in the way of 70,000 jobs and our vendor base," Kirkland & Ellis' Joshua Sussberg, attorney for JCPenney, said during the hearing.
Three separate bidders — private-equity firm Sycamore Partners, Saks Fifth Avenue owner Hudson's Bay, and a joint venture between mall owners Simon Property Group and Brookfield Property Partners —to be in the running to acquire JCPenney out of bankruptcy. Those talks have been confidential. "Certain negotiating postures and egos, however, have not necessarily been set aside over the course of the last two weeks, because it's failing. Our drive in the red zone stalled," Sussberg said. "All while the business has suffered, as our vendors, stand by with bated breath, waiting for an announcement, at the same time, holding inventory and the word that JCPenney will in fact back be around for the foreseeable future.
I love Penny's
Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Business Insider's biggest advertising and media stories for August 31 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Huge Data Harvesting Great proposition. Would love to see a real Amazon competitor. Whilst I don’t use Tik Tok, there’s no denying it’s monetisation potential.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
GOLDMAN SACHS: 10 oil stocks investors should buy now, and one to avoid - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Nestle is spending $2 billion to buy a company working to treat peanut allergies - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 2 billion? This is nuts! how about coffee allergy. they'vr already bought Israeli OSEM, for much less...
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
SUCCESS INSIDER: Harvard grads franchises, GT Dave's kombucha, culture - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. lockdown dems would shut down the economy... a second time... The democrat party is insane. By creating more & consuming less, Capitalism isnt a problem an individuals consumerism is Affluent Harvard grads take the easy way to fast money, letting burger flippers know they will never, ever work their way to franchisee.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Arthur Blank talks about founding Home Depot in new book 'Good Company' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Haha. People pay to read this? Wow.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »