JC Penney Says Sale Still On Despite Report Of Front-Runner

Law360 (July 29, 2020, 9:29 PM EDT) -- J.C. Penney Corp. denied reports that Sycamore Partners is a front-runner to buy the department store chain while telling a Texas bankruptcy judge Wednesday that it has received multiple bids for its business as it moves toward a going-concern sale.

At a remote hearing before U.S. Bankruptcy Judge David Jones, J.C. Penney counsel Joshua Sussberg said the "only thing" the Monday New York Post story had gotten right was that there have been multiple bids submitted for the retail chain.

"I think the takeaway here is we're moving forward on the sale process," he said.

J.C. Penney declared bankruptcy May 15,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!