Simon Property Group and Brookfield Property Group have agreed to a tentative deal that will see the mall owners acquire bankrupt retailer J.C. Penney’s business and stores, reported USA Today. The news outlet noted that the deal “is expected to save more than 600 stores and 70,000 jobs.” In a separate announcement, J.C. Penney said it will be liquidating 242 locations.
Source: USA Today
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