J.C. Penney Chain Sold, Should Survive Bankruptcy

PITTSBURGH, PA — J.C. Penney department stores seemingly will survive the coronavirus outbreak after a U.S. Bankruptcy Court approved the retailer's sale to Simon Property Group Brookfield Asset Management and the company's first lien lenders.

Simon Property Group owns two Pittsburgh-area malls, Ross Park Mall and South Hills Village.

“Our goal from the beginning of this process has been to ensure. J.C. Penney will continue to serve customers for decades to come and this Court approval accomplishes that objective,” Jill Soltau, chief executive officer of JCPenney, said in a news release.

“With the 2020 holiday season in full swing, we are excited to operate under the new ownership of Brookfield and Simon outside of Chapter 11 and under the J.C. Penney banner. We appreciate the efforts of the Court and the support of our creditors in this process and putting us in a strong position to build on J.C. Penney’s long track record of taking care of our associates, customers, vendor partners and communities.”

J.C. Penney store locations in southwestern Pennsylvania include:

• Ross Park Mall, Ross
• The Mall at Robinson, Robinson
• Monroeville Mall, Monroeville
• Westmoreland Mall, Greensburg