Are they going to sell some of their stores after ythe holiday season? Kirkland & Ellis LLP is serving as legal adviser, Lazard is serving as financial adviser, and AlixPartners LLP is serving as restructuring adviser to the Company. DocketUpdated -- Julia N. Sarnoff (Attorney): Middle Name changed from Nell to N. DocketCase Management Conference scheduled for 05/13/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47 Held - Continued was rescheduled to 07/07/2022 08:30 AM, DocketAddress for Azar Mouzari (Attorney) updated, DocketComplaint; Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), DocketCivil Case Cover Sheet; Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), DocketSummons on Complaint; Issued and Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), DocketAlternate Dispute Resolution Packet; Filed by: Clerk, DocketFirst Amended General Order re: Mandatory Electronic Filing; Filed by: Clerk, DocketVoluntary Efficient Litigation Stipulation Packet; Filed by: Clerk, DocketNotice of Case Assignment - Unlimited Civil Case; Filed by: Clerk, DocketCase assigned to Hon. Agenda for Hearing on 7/22/2021 (Filed By J. C. Penney Direct Marketing Services LLC ). On 01/13/2022 PAMELA HILL filed a Civil Right - Other Civil Right lawsuit against PENNEY OPCO, LLC. Or is there a kitty that holds all lease payments due from now on? The PropCos are expected to complete the Court-supervised restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021. There needs to be clarification. 10022 (Related document(s):1592 Emergency Motion) Filed by J. C. Penney Company, Inc. Order Postponing Sale Hearing Signed on 11/2/2020 Sale Hearing continued to November 9, 2020, at 10:30 a.m. CST by telephone and video conference. (Photo by: Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images), Education Images/Universal Images Group via Getty Images. This is exactly the type of investment our Retail Revitalization Program was designed to make and along with our partner Simon we have a successful blueprint in place to deploy our collective operational expertise and industry relationships to transform JCPenney through new innovations and offerings.. MARCELL ALLEN, JR., ET AL. 6624. Appearances: SEE ATTACHED. At every touchpoint, customers will discover stylish merchandise at incredible value from an extensive portfolio of private, exclusive and national brands. The OpCo will enter into master leases with the PropCos and JCPenney will continue to operate the properties and distribution centers moved into the PropCos. Password must match previously entered new password. This milestone would not be possible without the commitment and hard work of our associates and the support of our vendor partners. The PropCos are expected to complete the Court-supervised restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021. Summary: Penney OpCo LLC is a private company doing business as JCPenney outside of the Chapter 11 bankruptcy process. 77010 With the assistance of ABG (Authentic Brands Group) the company can open their stores and soon will show new brands that ABG owns. Please click below to view and downloadadditional Sale Documents: The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors: Claims Bar Date: on or before July 10, 2020, at 5:00 p.m. (prevailingCT), GovernmentalBar Date: on or before November 12, 2020, at 5:00 p.m. (prevailingCT). Nonetheless, I am happy that 60,000 associates are working and I hope that most of them will survive the new challenges management faces. Agreed Notice of Reset of Hearing with Respect to Claim No. JCPenney is continuing to serve its customers through this process, with a commitment to working seamlessly with its vendor partners and landlords. Create a recurring email based on criteria you specify below. Theresa M. Traber in Department 47 Stanley Mosk Courthouse, Los Angeles County Superior Courts | Labor | Or . NY (Related document(s):2596 Objection to Claim, 2597 Objection to Claim, 2598 Objection to Claim, 2599 Objection to Claim, 2600 Objection Notice of Reset of Hearing. The Company has included statements in this press release that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. TX If its significantly more than what I highlighted above, I'd take it to Bank of America (as the Bank of Record AKA Originating Financial Institution) and ask them to take a look at it if Paypal Customer Care does not yield the information you want or need. Will Continue to Serve Customers under the JCPenney Banner. Joele Frank Wilkinson Brimmer Katcher I cover major developments in the retail industry. Email: JCPenneyinfo@primeclerk.com. We are excited about JCPenneys future growth and look forward to collaborating with the JCPenney team to serve its customers and communities., We are excited to help lead the turnaround of a storied institution while saving tens of thousands of jobs and continuing to serve over 35 million customers, said Brian Kingston, CEO of Real Estate at Brookfield Asset Management. Agenda for Hearing on 10/4/2022 (Filed By J. C. Penney Direct Marketing Services LLC ). Today is an exciting day for our company, as we have accomplished our goal of putting JCPenney on a secure path for the future as a private company so that we can continue to serve our loyal customers, said Jill Soltau, Chief Executive Officer of JCPenney. Omnibus Notice of Reset of Electronic Hearings. The release further states that the PropCos and the OpCo will enter into master leases with respect to the properties and distribution centers moved into the PropCos. It has a return address of: PayPal, <removed>, Orlando, FL 32896. On December 7, 2020, Old COPPER Company, Inc. (OTCMKTS: CPPRQ), formerly known as J. C. Penney Company, Inc. (OTCMKTS: JCPNQ), completed the sale of substantially all of its retail and operating assets to Penney OpCo LLC, an entity controlled by Simon Property Group and Brookfield Asset Management, Inc. Penney OpCo LLC is a private company doing business as JCPenney outside of the Chapter 11 bankruptcy process. When does Propco function? PENNEY, L.L.C. Pathlight is pleased to support JCPenney through their emergence and future growth, said Dan Platt, CEO at Pathlight Capital. Reinforcing this shopping experience is the customer service and warrior spirit of JCPenney associates across the globe, all driving toward the Company's mission to help customers find what they love for less time, money, and effort. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. Paypal won't permit me (the system has already autorejected my post twice) to reveal the phone number. 10019 Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. Pay the borrowers rent under its leases; Pay ongoing working capital requirements; Refinance certain indebtedness of the borrower and its subsidiaries, including under the DIP; and. Penney OpCo LLC (trading name, 2020-11-16 - ) JCPenney (trading name, 2021-01-13 - ) Agent Name C T Corporation System Agent Address 1999 Bryan St., Ste. The new Penney's, called Penney OpCo LLC, is a private company. ROSA ACEVEDO VS PENNEY OPCO LLC DBA JCPENNEY, ET AL. This milestone would not be possible without the commitment and hard work of our associates and the support of our vendor partners. The RSA contemplates agreed-upon terms for a pre-arranged . They are pretty nice and some reps can be more helpful than others. Pathlight is pleased to support JCPenney through their emergence and future growth, said Dan Platt, CEO at Pathlight Capital. The Unified Business Identifier (UBI) of the entity is #604678634, the entity type is Foreign Limited Liability Company and the business category is Limited Liability Regular. OpCo acquired assets include substantially all operating assets and all of the real estate assets other than the PropCo assets. After all, all those scams they talk about in the News where people deposited bogus checks and wired the money out to the fraudsters did not receive the checks in question until regular communication with the fraudster was established. I shudder at the additional costs that JCPenney has to incur in order to fully settle the bankruptcy. With the completion of the sale, JCPenney has access to approximately $1.5 billion of new financing. All retail operations of Old COPPER Company, Inc. See Details 3.JCPenney To Refund Customers $50M In False Advertising Author: consumerist.com Post date: 4 yesterday Rating: 1 (1093 reviews) Highest rating: 4 Low rated: 2 UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. Throughout the 2020 holiday season and beyond, we remain focused on implementing our Plan for Renewal to Offer Compelling Merchandise, Drive Traffic, Deliver an Engaging Experience, Fuel Growth and Build a Results-Minded Culture., We have always been firm believers in JCPenney, and are very pleased to help preserve this iconic institution and save tens of thousands of jobs, said David Simon, Chairman, Chief Executive Officer and President of Simon Property Group. Filed by J. C. Penney Direct Marketing Services LLC, Notice of Reset Hearing. Before sharing sensitive information, make sure youre on a federal government site. JCPenneys retail and operating assets to exit Chapter 11 as the Company continues to serve customers under the JCPenney banner. 8:17-ML-2797-AG-KES. The Search Is On For The SDCs Global Colourist Of The Year 2023: Could Spinnova Has Appointed Santeri Heinonen As Chief Human Resources Officer And Management Team Member, Built To Last: Carhartt Launches Reworked Resale Site, Trade-In Program, ITMA 2023: Milan Hosts Textile Industry Superbowl, Introduction To Spunbond And Meltblown Technology, U.S. Industrial and Narrow Fabrics Institute Advocacy Days. OpCo Secured Term Loan According to the filing, the proposed $500 million . Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors. We are looking forward to working with the management team and new equity partners as they continue to implement their transformation strategy and focus on enhancing the shopping experience of their loyal customer base., Additional information regarding JCPenneys financial restructuring is available at jcprestructuring.com. Search the Legal Library instead. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. If its for a reasonably small amount 0-100, for example, I really can't imagine it being a fraudulent check. With the completion of the sale, JCPenney has access to approximately $1.5 billion of new financing. J.C. Penney disclosed that on Sept. 10, the company entered into a nonbinding LOI with the ad hoc group, Simon Property Group and Brookfield Property Group that is "generally consistent with the framework of the restructuring process contemplated in the RSA." . The common stock (JCPNQ/CPPRQ) is no longer in existence and is not traded or quoted on any market or exchange. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel and BRG Capital Advisors, LLC is serving as financial adviser to Simon and Brookfield. In re Wells Fargo Collateral Protection Insurance Litigation, Case No. In any case, as I understand it, PropCos will be owned by the majority of JCPenneys first-lien lenders. 2023-01-13, Los Angeles County Superior Courts | Personal Injury | This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. Agenda for Hearing on 9/8/2021 (Filed By J. C. Penney Direct Marketing Services LLC ). Notice of Electronic Hearing. Shop the best deals on dresses, shoes, jewelry, and much more with JCPenney. Words such as expect and similar expressions identify forward-looking statements. Amended Agenda for Hearing on 5/4/2022 (Filed By J. C. Penney Direct Marketing Services LLC ). Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. Notice of Electronic Hearing. Investors can still trade JCP it's . Case Summary. (Related document(s):540 Objection to Claim) Filed by J. C. Penney Direct Marketing Services LLC, Notice of Hearing. That's all I can say since my post is getting flagged for this reason. Some Exclusions Apply. The OpCo will enter into master leases with the PropCos and JCPenney will continue to operate the properties and distribution centers moved into the PropCos. Penney Opco LLC is listed as an officer of another company. All retail operations of Old COPPER Company, Inc. ended effective with the sale of its operating assets. Additional information regarding JCPenneys financial restructuring is available at www.jcprestructuring.com. BRADLEY SYVERSON, vp-real estate; C T Corporation System, agent; Filed by J. C. Penney Direct Marketing Services LLC, Notice of Reset of Hearing. Check your browser settings or contact your network administrator. (972) 431-3400 or jcpnews@jcp.com; Follow us @jcpnews, Meaghan Repko / Jed Repko / Dan Moore Any forward-looking statement made by the Company in this press release is based only on information currently available to it and speaks only as of the date on which such statement is made. Stephanie T. Nguyen, Chief Technology Officer, Competition and Consumer Protection Guidance Documents, The Federal Trade Commission works to promote competition and to, and report scams, fraud, and bad business practices online at, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, FTC to Host Workshop on Recyclable Claims as Part of its Ongoing Review of the Agencys Green Guides, Celebrating NCPW 2023 In Your Neighborhood: Outreach & Program Ideas - March 1, Company That Placed Crammed Charges on Consumers Phone Bills Settles FTC Contempt Charges, FTC Seeks Return of $52 Million Worth of Bogus Phone Bill Cramming Charges; Agency Charges Nation's Largest Third-Party Billing Company with Contempt, FTC Enforcement Actions Continue to Target "Crammers". The Declarations filed at 10, 25 and 39 have been admitted. The old Penney's, now called Old Copper Company, will continue to own the real estate. Notice of Reset Hearing. With this closing, our operating company has exited Chapter 11 and is continuing under new ownership and the JCPenney banner. JCPenney filed for Chapter 11 bankruptcy on Friday, meaning the 118-year-old retailer will get what may be its final chance to turn things around. The case status is Pending - Other Pending. The refunds stem from money the FTC collected from a group of defendants who admitted that they violated a 1999 FTC settlement order that prohibited them from unauthorized billing. And the best part of all, documents in their CrowdSourced Library are FREE! Or, perhaps you sold something to someone and they used Paypal to send an e-check? Call (844) 519-3595 to learn more about your business credit file Call (844) 519-3595 to learn more. Final Hearing on Certain First Day Motions, Hearing re Extending Time for Performance re Unexpired Non-Residential Lease, J. C. Penney Direct Marketing Services LLC, J. C. Penney Export Merchandising Corporation. Need info on your own credit report? Address: 2401 S Stemmons Freeway. Minute Order - MINUTE ORDER (CASE MANAGEMENT CONFERENCE:), Stipulation and Order - SECOND STIPULATION AND ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADING, Certificate of Mailing for - CERTIFICATE OF MAILING FOR (COURT ORDER - REGARDING CONTINUANCE OF HEARING:) OF 03/17/2022, Minute Order - MINUTE ORDER (COURT ORDER - REGARDING CONTINUANCE OF HEARING:), Stipulation and Order - STIPULATION AND ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADING AND CONTINUE CASE MANAGEMENT CONFERENCE, Notice of Case Assignment - Unlimited Civil Case, Voluntary Efficient Litigation Stipulation Packet, Unknown - FIRST AMENDED GENERAL ORDER RE: MANDATORY ELECTRONIC FILING, Unknown - ALTERNATE DISPUTE RESOLUTION PACKET, Cases involving other civil rights and constitutional questions not classified elsewhere, 440, 444, 1440, 1444, 2440, 2444, 3440, 3444, 4440, 4444, 5950, On the Complaint filed by Pamela Hill on 01/13/2022, entered Request for Dismissal with prejudice filed by Pamela Hill as to the entire action, Request for Dismissal; Filed by: Pamela Hill (Plaintiff); As to: Pamela Hill (Plaintiff); Penney Opco, LLC (Defendant), Order to Show Cause Re: Dismissal (Settlement) scheduled for 09/06/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47 Not Held - Vacated by Court on 07/22/2022, Order to Show Cause Re: Dismissal (Settlement) scheduled for 09/06/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47, Minute Order (Case Management Conference:), Case Management Conference scheduled for 07/07/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47 updated: Result Date to 07/07/2022; Result Type to Held, Case Management Conference scheduled for 07/07/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47. Looking for legal documents or records? For additional information, please visit jcp.com. International: +1-646-979-4417 The Company does not undertake to update these forward-looking statements as of any future date. OpCo assumed liabilities include certain assumed contracts, all liabilities arising out of the operation of the OpCo acquired assets post-closing and a blank placeholder provision. All suggestions are based on my education, experience, and interactions in matters of finance over the years. I don't know how to call a PayPal agent and discuss where this is coming from. The companys asset purchase agreement (APA) with Simon, Brookfield and the companys DIP and First Lien Lenders, supported by the Unsecured Creditors Committee, had previously been approved by the U.S. Bankruptcy Court for the Southern District of Texas on November 9, 2020. The latitude of Roubaix, Hauts-de-France, France is 50.690102, and the longitude is 3.181670.Roubaix, Hauts-de-France, France is located at France country in the Cities place category with the gps coordinates of 50 41' 24.3672'' N and 3 10' 54.0120'' E. Florida, Spring Hill, Nature Coast Commons, shopping mall, JC Penney, department store. Theresa M. Traber in Department 47 Stanley Mosk Courthouse. Doing Business As: JC Penney Company Description: Key Principal: Kerri Bingham See more contacts Industry: Department stores, non-discount Printer Friendly View Address: 3601 S Constitution Blvd Salt Lake City, UT, 84119-3746 United States See other locations Phone: Employees (this site): Modelled ESG industry average: What is D&B's ESG Ranking? Penney Opco LLC VISIT WEBSITE Contact Information 2401 S Stemmons Fwy, Ste 4000 Lewisville, TX 75067-8797 VIEW MAP (972) 431-1000 www.jcpenney.com Company Details Location Type: Headquarters Industry: Department Stores Ownership: Private Year Founded: 1902 Contact Information 2401 S Stemmons Fwy STE 4000 Lewisville, TX 75067-8797 Get Directions Visit Website Email this Business (972) 431-1000 Average of 179 Customer Reviews Start a Review Customer. Agenda for Hearing on 6/21/2022 (Filed By J. C. Penney Direct Marketing Services LLC ). Overview. is an Utah Domestic LLC filed on June 26, 1996. SAMANTHA VASQUEZ, INDIVIDUALLY AND ON BEHALF OF ALL OTHER AGGRIEVED EMPLOYEES VS PENNEY OPCO LLC. Notice of Reset of Lift Stay Hearing. Appearances: see attached. Cautionary Statement Regarding Forward-Looking Information. On December 7, 2020, Old COPPER Company, Inc. (OTCMKTS: CPPRQ), formerly known as J. C. Penney Company, Inc. (OTCMKTS: JCPNQ), completed the sale of substantially all of its retail and operating assets to Penney OpCo LLC, an entity controlled by Simon Property Group and Brookfield Asset Management, Inc. Penney OpCo LLC is a private company doing Kirkland & Ellis LLP is serving as legal adviser, Lazard is serving as financial adviser, and AlixPartners LLP is serving as restructuring adviser to the Company. The FTC enforces consumer protection laws to stop illegal business practices and get refunds to people who lost money. Wells Fargo CPI Class Action Settlement. 78401 A check has been made out, to me. The Judge overseeing this case is THERESA M. TRABER. We are excited about JCPenneys future growth and look forward to collaborating with the JCPenney team to serve its customers and communities., We are excited to help lead the turnaround of a storied institution while saving tens of thousands of jobs and continuing to serve over 35 million customers, said Brian Kingston, CEO of Real Estate at Brookfield Asset Management. 1999-2023 PayPal, Inc. All rights reserved. (Related document(s):236 Application to Employ, 238 Application to Employ, 800 Objection, 801 Objection) Filed by J. C. Penney Company, Inc. Notice of Reset Hearing on Motion for Entry of an Order (I) Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Professionals, an Order (I) Setting Bar Dates for Filing Proofs of Claim Including Requests for Payment Under Section 503(b)(9), (II) Establishing Amended Schedules Bar Date and Order (I) Extending Time for Performance of Obligations Arising Under Unexpired Non-Residential Real Property Lees and (II) Granting Related Relief (Related Doc Notice of Disclosure Statement Hearing. We are looking forward to working with the management team and new equity partners as they continue to implement their transformation strategy and focus on enhancing the shopping experience of their loyal customer base.. Last Wednesday, Simon Property Group (Simon) and Brookfield Capital Partners (Brookfield) were given the green light by the court. Time Hearing Held: 1:00 - 3:15 PM. Box 10001 Dallas, Texas 75301-7304 email trademarks-sm@jcp.com, or call (972) 431-1000. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. JCPenney is now poised for a future focused on innovation and consumers, while continuing to navigate through the pandemic. OnOctober 20, 2020the Debtors filed their Disclosure Statement for the Joint Chapter 11 Plan of Reorganization related thereto. (Related document(s):306 Objection to Claim, 394 Objection to Claim, 399 Objection to Claim, 408 Objection to Cl Notice of Reset of Hearing. Why is this public record being published online? 77002 JCPenney, one of the nations largest apparel and home retailers, combines an expansive footprint of stores across the United States and Puerto Rico with a powerful eCommerce site, jcp.com, to deliver style and value for all hard-working American families. 204, Olympia, WA 98501-1267, 232 Pinehurst Dr Sw # 302, Tumwater, WA 98501, 1111 Market St Ne Ste 200, Olympia, WA 98501, 5205 Boulevard Extension Road Se, Olympia, WA 98501, 300 Deschutes Way Sw Mc-Csc1, Ste 208, Tumwater, WA 98501, 120 State Ave Ne #1502, Olympia, WA 98501, 6511 Bunker Lake Blvd Nw, Ramsey, MN 55303-5409, 412 Sw 11th St, Battle Ground, WA 98604-2844, 404 N Ingraham Ave, Lakeland, FL 33801-2031, 1253 S Jackson St Ste A, Seattle, WA 98144-3075, 411 Lee Street Sw Apt B13, Tumwater, WA 98501, 22900 Se 438th St, Enumclaw, WA 98022-9069. Corpus Christi, NY My concern that customers do not want to shop in stores due to the strong resurgence of the coronavirus COVID-19, which was borne out by the lack of customers in stores nationally. They are nice too, but again, based on my experience, the issue was not resolved until I followed-up in the morning/afternoon and spoke with US-based reps. My opinions are my own and do not reflect any official position for Paypal. On December 16, 2020, the Bankruptcy Court entereditsamendedorder approving the Disclosure Statement and confirming the Amended Plan following an oral ruling on November 29, 2020. (Related document(s):2387 Generic Motion, 2538 Objection to Claim) Filed by J. C. Penney Company, Inc. Notice of Reset of Lift Stay Hearing. In addition, on November 24, 2020, the Court approved the Companys Plan of Reorganization to create separate property holding companies (PropCos) comprising 160 of the Companys real estate assets and all of its owned distribution centers, which will be owned by the Companys DIP and First Lien Lenders. Internet Explorer presents a security risk. 10001-2057 On May 15, 2020, JCPenney announced that it has entered into a restructuring support agreement (the "RSA") with lenders holding approximately 70% of JCPenney's first lien debt to reduce the Company's outstanding indebtedness and strengthen its financial position. Agenda for Hearing on 12/7/2022 (Filed By J. C. Penney Direct Marketing Services LLC ). It is difficult to understand how an operating company now run by Simon and Brookfield with assistance by ABG can operate when the properties may get not out of bankruptcy quickly. That is great. The press release from JCPenney states that the Propcos are expected to emerge from the court supervised restructuring process in the first half of 2021. With this closing, our operating company has exited Chapter 11 and is continuing under new ownership and the JCPenney banner. If you have questions concerning the legal notices stated above, you may contact our Designated Agent/J.C. NEW HAMPSHIRE FOREIGN LIMITED-LIABILITY COMPANY. Never miss a chance to save when shopping for him, her, kids, or home. PRIME CLERK IS NOW KROLL RESTRUCTURING ADMINISTRATION. Learn more about your rights as a consumer and how to spot and avoid scams. 2022-11-17. Find legal resources and guidance to understand your business responsibilities and comply with the law. 601 Lexington Avenue New York, To ensure the most secure and best overall experience on our website, we recommend the latest versions of. (Related document(s):791 Objection to Claim) Filed by J. C. Penney Direct Marketing Services LLC. People who receive checks should deposit or cash them within 90 days, as indicated on the check. See terms and conditions for details. JCPenney's Retail and Operating Assets to Exit Chapter 11, JCPenney Restructuring Plan to Create PropCos Confirmed by Court, JCPenney Receives Court Approval for Asset Purchase Agreement with Brookfield, Simon and First Lien Lenders, JCPenney Signs Asset Purchase Agreement with Brookfield, Simon and First Lien Lenders, Charting Course for the Future, JCPenney Files Draft Asset Purchase Agreement, JCPenney Reaches Agreement in Principle with Brookfield Property Group and Simon Property Group to Acquire Retail and Operating Assets, JCPenney Announces Organizational Restructuring, Store Closing Sales are Now Underway at Select JCPenney Stores, JCPenney Provides Update on Store Optimization Strategy, JCPenney Receives Court Authorization to Access Debtor-In-Possession Financing, JCPenney Receives Court Approval of First Day Motions to Support Business Operations, JCPenney to Reduce Debt and Strengthen Financial Position Through Restructuring Support Agreement, Court filings and information about the claims process are available at http://cases.primeclerk.com/JCPenney, Toll-free: 877-720-6576 Opinions expressed by Forbes Contributors are their own. On May 15, 2020, JCPenney announced that it has entered into a restructuring support agreement (the RSA) with lenders holding approximately 70% of JCPenneys first lien debt to reduce the Companys outstanding indebtedness and strengthen its financial position. Old COPPER Company, Inc. completed the Chapter 11 bankruptcy process on January 30, 2021, when the Plan of Reorganization was declared effective. This is exactly the type of investment our Retail Revitalization Program was designed to make and along with our partner Simon we have a successful blueprint in place to deploy our collective operational expertise and industry relationships to transform JCPenney through new innovations and offerings.. (Related document(s):38 Emergency Motion, 108 Order Setting Hearing) Filed by J. C. Penney Company, Inc. The Companys asset purchase agreement (APA) with Simon, Brookfield and the Companys DIP and First Lien Lenders (First Lien Lenders), supported by the Unsecured Creditors Committee, had previously been approved by the U.S. Bankruptcy Court for the Southern District of Texas (the Court) on November 9, 2020. Amount 0-100, for example, I am happy that 60,000 associates are working and I that. Trade JCP it & # x27 ; s, called Penney OPCO, LLC and consumers, continuing..., to me t know how to call a PayPal agent and discuss where this is coming from the Community... Incredible value from an extensive portfolio of private, exclusive and national brands stop illegal business practices and refunds! Cover major developments in the first half of 2021 for example, I am that... And discuss where this is coming from the Court-supervised restructuring process and emerge from Chapter 11 is... 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