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Bankruptcy court approves JCPenney property plan

2020-11-26 11:27:00| Daily apparel & textile news and comment - from just-style.com

A US bankruptcy court has approved JCPenney's plan to create separate property holding companies for its 160 of its real estate assets and all of its owned distribution centres. The so-called 'PropCos' are expected to complete the restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021.

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