Deal with mall operators could save JC Penney: reports

New York (AFP) – American department store J.C. Penney may have found a lifeline out of bankruptcy after reaching a deal with mall operators Simon Property Group and Brookfield Property Partners, US media reported Wednesday.The potential transaction could save some 70,000 jobs and 650 stores, CNBC reported, quoting statements from an attorney representing Penney at a US bankruptcy hearing.Under the deal, reached after tense weeks of negotiation, Simon and Brookfield would pay $300 million and assume $500 million in debt, the network reported.”We’ve had a few screaming matches, including earlie…

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