The company has hired Cushman & Wakefield and B. Riley Real Estate to market 21 stores it owns and the leases for another 142 stores across the country to potential buyers, according to marketing materials seen by Business Insider. "There's all kinds of interest and there are some good properties here," said Jim Terrell, a principal at the real-estate services and brokerage firm B. Riley Real Estate.
JCPenney had previously stated it is closing 151 locations this year and 242 locations in total as part of its bankruptcy. Michael Jerbich, B. Riley's president, who is working on the deals to dispose of the locations for the department-store brand, said the leased store locations would likely all be closed and sold off by the fall. Bids are due for the leases by mid-September."The owned properties are still operating and their closing dates will vary, with some continuing to operate for some time while others could close sooner," Jerbich said.
Jerbich suggested that JCPenney could offer other locations among the nearly 850 stores it occupies for sale in the coming months. "Although there aren't additional stores being offered for sale at this time, that could change as the process evolves," he said.
I went to one of their store closing and they tried to sell endcaps from 1980 for $400 😂
Emerge as what?
lol
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Peacock reported 10 million sign-ups this week - Business Insider - 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. Interesting & well considered distinction.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Apple gave Amazon 50% App Store discount to get Prime Video on iOS - 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. someone get that man some teeth whitening strips, stat! Steve would have been disappointed So a deal? Wow. Amazing.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Messages show Instagram cofounder felt pressured to sell to Facebook - 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.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Lori Loughlin, of college admissions scandal fame, sells Bel Air home - 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.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Pfizer CEO defends the idea of companies profiting off coronavirus vaccines - 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. To save lives of people worldwide shouldn’t it be free to everyone
Source: BusinessInsider - 🏆 729. / 51 Read more »
Rent's due, again: Monthly anxieties deepen as aid falls off - 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. Yeah, this insane idea of quarantining the healthy may not have flattened the curve but it sure flattened the economy And get this, Democrats are overjoyed! Amazing. In the immortal words of Fascist 'elites' of old: 'Let them eat cake!'. -Or GMO foods.
Source: BusinessInsider - 🏆 729. / 51 Read more »