Bankrupted JC Penney plans to spin its properties into separate real estate company
An empty parking lot is shown at a closed JC Penney store in Roseville, Mich., May 8, 2020.
Paul Sancya | AP
A piece of J.C. Penney‘s proposal to emerge from bankruptcy includes spinning its real estate into a publicly traded real estate investment trust.
As part of a plan filed with the bankruptcy court, Penney would reorganize into a new retailer (“JCP”), along with a REIT that would…
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