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September 10, 2020

Mall owners close to buying JC Penney

NEW YORK (AP) — Mall owners Simon Property Group and Brookfield Property Partners are close to a deal to buy department store chain J.C. Penney out of bankruptcy and keep the chain running.

Penney's lawyer Josh Sussberg announced the tentative pact, which will save roughly 70,000 jobs, during a brief hearing in bankruptcy court Wednesday.


 
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