U.S. Markets closed
  • S&P 500

    3,453.49
    +17.93 (+0.52%)
     
  • Dow 30

    28,363.66
    +152.84 (+0.54%)
     
  • Nasdaq

    11,506.01
    +21.31 (+0.19%)
     
  • Russell 2000

    1,630.25
    +26.48 (+1.65%)
     
  • Crude Oil

    40.61
    -0.03 (-0.07%)
     
  • Gold

    1,906.50
    -23.00 (-1.19%)
     
  • Silver

    24.83
    -0.42 (-1.65%)
     
  • EUR/USD

    1.1825
    -0.0042 (-0.3547%)
     
  • 10-Yr Bond

    0.8480
    +0.0320 (+3.92%)
     
  • Vix

    28.11
    -0.54 (-1.88%)
     
  • GBP/USD

    1.3081
    -0.0062 (-0.4748%)
     
  • USD/JPY

    104.8430
    +0.2830 (+0.2707%)
     
  • BTC-USD

    13,061.25
    +2,004.24 (+18.13%)
     
  • CMC Crypto 200

    263.22
    +7.12 (+2.78%)
     
  • FTSE 100

    5,785.65
    +9.15 (+0.16%)
     
  • Nikkei 225

    23,474.27
    -92.73 (-0.39%)
     

J.C. Penney sale talks stall: Bloomberg News

·1 min read
FILE PHOTO: The sign outside the J.C. Penney store is seen in Westminster
FILE PHOTO: The sign outside the J.C. Penney store is seen in Westminster

(Reuters) - Talks between J.C. Penney Co's lenders and the would-be buyers, Simon Property Group Inc <SPG.N> and Brookfield Property Partners LP <BPY.O>, broke down in recent days, Bloomberg News reported on Thursday, citing people with knowledge of the negotiations.

Simon Property and Brookfield Property, which are also the retailer's two biggest landlords, missed several deal deadlines as communication between the parties lapsed, according to the report.

The two sides may turn to mediation to help them determine if they can complete the deal, and on what terms, Bloomberg reported.

Creditors say J.C. Penney's original sale plan called for the deal to close around Oct. 3, Bloomberg reported, citing a regulatory filing.

J.C. Penney declined to comment, while the two mall owners did not immediately respond to Reuters' requests for comment.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Anil D'Silva)