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JCPenney Store Sale Fails Amid Allegations of Sabotage

12/31/2025

23 5 Full Breakdown

Summary

Story summary

A $947 million deal to sell over 100 JCPenney stores collapsed, involving operations across 35 states and Puerto Rico.
Onyx Partners alleges Copper Property sabotaged the sale by withholding documentation and courting other buyers.
The trust says Onyx missed a critical deadline to close.
JCPenney will continue operating the stores regardless of the sale's outcome.

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Story summary

A $947 million deal to sell over 100 JCPenney stores collapsed, involving operations across 35 states and Puerto Rico.
Onyx Partners alleges Copper Property sabotaged the sale by withholding documentation and courting other buyers.
The trust says Onyx missed a critical deadline to close.
JCPenney will continue operating the stores regardless of the sale's outcome.