A Boston-based private equity firm recently announced that it will purchase more than 100 JCPenney stores across the country , leaving many loyal customers wondering about the status of the locations, which are scattered across 35 states. But the department store chain says those stores are not slated for closure and will continue operating as usual.
“The real estate transaction announced yesterday represents a change in landlord, but does not impact JCPenney store operations,” the company noted in a statement. “These 119 JCPenney stores will continue to operate and serve our loyal customers and communities.”
The properties — the bulk of which are in Texas and California — are being sold to an affiliate of Onyx Partners for $947 million, with the deal expected to close by Sept. 8. Acco