July 31, 2020 by Marlee McCormick

JCP: We Have Three Potential Buyers

(Plano, TX) — There are three companies looking to buy JCPenney.

An attorney for the North Texas-based retailer told a bankruptcy judge Thursday there are negotiations between lenders and bidders meaning it could exit bankruptcy this year. Penney’s declined to reveal who the bidders were only saying a report claiming that the retailer would be merged with Belk are not true.

The plan could be approved in late October.