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July 30, 2020

J.C. Penney going forward with sale

NEW YORK (AP) — An attorney for J.C. Penney Co. told a bankruptcy judge Wednesday that the retailer is going forward with a sale of its business and expects the deal to be completed by the fall.

The potential sale comes as Plano, Texas-based Penney is looking at three bidders, which are looking at buying the company as a going concern. The bidders weren't identified.

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