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JCPenney Sale Faces Risk After Onyx Misses Deadline

12/27/2025

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Summary

Story summary

A $947 million deal to sell 117 JCPenney stores is at risk after Onyx Partners missed the December 22 deadline.
The sale was to close in early September but was delayed repeatedly.
Copper Property CTL Pass Through Trust issued a termination notice to Onyx after the deadline.
JCPenney emerged from bankruptcy in December 2020 and now operates nearly 650 stores nationwide, including locations spanning 35 states and Puerto Rico.

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Story summary

A $947 million deal to sell 117 JCPenney stores is at risk after Onyx Partners missed the December 22 deadline.
The sale was to close in early September but was delayed repeatedly.
Copper Property CTL Pass Through Trust issued a termination notice to Onyx after the deadline.
JCPenney emerged from bankruptcy in December 2020 and now operates nearly 650 stores nationwide, including locations spanning 35 states and Puerto Rico.