Does JCPenney stores sale affect Indiana locations? How many stores are left in 2025? What we know
An affiliate of Onyx Partners, Ltd. will pay $947 million to own the department store locations.
Here's what we know:
Copper Property — a trust formed by JCPenney's lenders as part of the retailer's reorganization after its 2020 bankruptcy filing — has been seeking buyers through the property management company Newmark and Hilco Real Estate.
An affiliate of Onyx Partners, Ltd. — a Boston private equity firm — will pay $947 million for 119 JCPenney stores. Copper Property announced the all-cash sale on July 25.
A Sept. 8 closing of the deal is expected for the net-lease stores, which pay rent and operating expenses.
"The Buyer has now completed its due diligence, and its deposit under the Agreement is non-refundable," Copper Property Trust said in a news release on July 25.
Copper Property took control of about 160 JCPenney locations and six distribution centers after the bankruptcy filing. Simon Property Group and Brookfield Asset Management Inc. took over JCPenney operations and the remaining locations.
JCPenney recently announced seven store closures in February 2025 that officially shuttered in May 2025. The chain originally closed more than 200 U.S. locations when the retailer filed for bankruptcy amid the COVID-19 pandemic.
As for the 119 stores sold to Onyx Partners, all locations are currently operational. The company did not respond to a request for comment on possible store closures from USA TODAY.
JCPenney currently has about 650 stores. The department store chain was one of the largest retailers to file for Chapter 11 bankruptcy protection.
One Indiana JCPenney location was sold in the Onyx Partners deal:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
an hour ago
- New York Post
Media still undercounting return-to-office phenomenon
The media continues to absurdly undercount, downplay or misunderstand the return-to-office phenomenon, although the surge should be obvious from the current leasing frenzy and from crowds on the street. For example, Crain's last week questioned whether the 345 Park Ave. murders would 'impact the city's already stagnant return-to-office rates.' The story based its 'stagnant' claim partly on the Partnership for New York City's supposed finding that only '57% of Manhattan office workers had returned on the average workday.' 3 The Midtown shooting happened at 345 Park Ave. AFP via Getty Images 3 An NYPD police officer stands at the shattered glass entrance to 345 Park Avenue after the shooting. John Angelillo/UPI/Shutterstock 3 NYC office capacity was never full — even during pre-COVID times. Tierney – That — like many similar off-base readings of data — made it sound as if Manhattan offices that were full before 2020 are now barely more than half full. What the Partnership actually said in March was that 57% of workers in offices at the time 'equates to 76% of respondents' pre-pandemic attendance.' In other words, pre-pandemic offices were not 100% occupied — they never were — but 75% occupied. That's because 57 is 76% of 75. The 19% difference between 76% and 57% is much less than an alleged 43% gap between 100% and 57%. And with so many CEO's calling their staffs back, the 19% gap can only continue to shrink further.
Miami Herald
2 hours ago
- Miami Herald
140-year-old college, forced to close after Chapter 7 bankruptcy
Bacone College, a 140-year-old Native-serving institution in Oklahoma, has been shut down and ordered into Chapter 7 liquidation after a judge cited mismanagement and financial collapse. The school had filed for Chapter 11 bankruptcy in 2024, but now faces total closure. Many colleges have a deep history and connection to their community, but Bacone's ran deeper than most. Bacone College, formerly the Indian University, "was founded in 1880 to educate Indian Students," according to its website. The school played a very important role in its early years. "At the height of Indian Removal the Muscogee (Creek) Nation donated land to eh American Baptist Church and namely the American Baptist Home Mission Societies (ABHMS) to establish Bacone College," it continued. Bacone Collegel gave a current mission statement on its website. "As a historic American Indian-serving institution, Bacone College provides a quality, holistic, liberal arts, educational experience for students in a culturally diverse environment, empowering life-long learners with the knowledge, skills, and capacity to be transformational leaders in both Native and non-native communities," it shared. Things began to fall apart for Bacone around a year ago. "On June 27, 2024, the Higher Learning Commission (HLC) acted to withdraw the accreditation of Bacone College in Muskogee, Oklahoma," the school shared on its website. Bacone College filed for Chapter 11 bankruptcy around when it lost its accreditation. The school has remained open for existing students, but has not been taking new admissions. U.S. bankruptcy trustee Ilene Lashinsky, filed a motion in June citing "gross mismanagement" including a disputed payment of approximately $16,500 on a loan in Acting President Leslie Hannah's name, alleging that the funds had been misused. In the filing,. Lashinsky asked for the Chapter 11 bankruptcy to be converted into a Chapter 7 bankruptcy filing. "The U.S. Trustee submits that the appropriate action in this instance is conversionto a Chapter 7 case. This case is stagnant and the Debtor's only hope is that an investor may come in and purchase the real estate assets of the Debtor. This is the best option for creditors to get paid. And a Chapter 7 trustee is fully capable of managing and negotiating that transaction on behalf of Debtor's estate," the filing read. In May, a federal judge agreed that the case be converted to a Chapter 7 case, citing "gross mismanagement' by college officials, one of whom the trustee alleged used the institution's bank account to pay his personal expenses. In late May, Bacone College was ordered to turn over access to the campus so it can be liquidated. All educational operations ended at that time. Bacone has been failing for some time: In fall 2023, Bacone had just 106 students, less than half the number of just five years earlier and a fraction of the 1,184 students the college enrolled in 2010, according to date from sought tribal college status, which would have made it eligible for additional federal funding. The Osage Nation and Cheyenne, Arapaho, Kiowa and Otoe-Missouria tribes agreed to charter it, but the college never won tribal college status from the federal government. June 2024: Bacone College in Muskogee, Oklahoma filed for Chapter 11 bankruptcy, seeking to reorganize and continue operations while addressing mounting debts June 2025: A U.S. bankruptcy trustee, Ilene Lashinsky, filed a motion citing "gross mismanagement"-including a disputed payment of approximately $16,500 on a loan in Acting President Leslie Hannah's name with allegations of misuse of college funds Mid‑May 2025: A federal judge granted the trustee's motion and converted the case from Chapter 11 (reorganization) to Chapter 7 (liquidation), triggering a managed wind‑down of the college's 21, 2025: Bacone College was ordered to turn over all keys and physical control of the campus immediately to the bankruptcy trustee-effectively ending any remaining institutional operations Related: Popular shoe brand files Chapter 7 bankruptcy, liquidating The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Insider
7 hours ago
- Business Insider
Target salaries revealed: How much the retailer pays software engineers and other tech workers
Target is continuing to invest in its tech workforce as it tries to recapture the success it saw a few years ago. EVP and operating chief Michael Fiddelke told investors in May that harnessing tech and AI would be critical to his work in the company's newly formed office that aims to accelerate its growth plan. The Bullseye retailer has long brought a tech-savviness to its business that has set it apart from most other retailers: it first launched its e-commerce website in 1999, and its early engagement with mobile pickup and delivery services gave Target a massive lift during the COVID-19 pandemic. Today, the company employs a large tech team behind its increasingly complex business of physical stores, e-commerce business, retail media, and more. And it pays well, salary data suggests. Company filings with the US Department of Labor show Target sought to hire around 94 workers through the US H-1B visa program in the first half of this reporting year, largely in software development, information systems, and data science. That number is up substantially from about 49 for the same period the years before, but roughly in line with the 98 records from two years ago. By comparison, big-box rival Walmart has about four times as many US employees and requested visas for 1,750 workers. Companies are required to submit this work visa data, which includes salary information, to the US Department of Labor for all foreign hires. However, the compensation figures don't include equity or other benefits that employees can receive in addition to their base pay. The filings also include industry average pay rates for US workers. Business Insider analyzed how much money companies from Apple to Walmart are paying for tech jobs and other roles. Explore salary data from America's biggest employers. Target has about 440,000 full-time, part-time, and seasonal employees. Its starting wage for US hourly workers is $15 to $24. A Target spokesperson told Business Insider the company also offers retirement fund matching and a range of other benefits such as employee discounts. The vast majority of the 10,777 jobs listed on Target's careers website at the time of this writing were for positions in the company's fleet of 1,978 stores. Within the 230 corporate openings, 139 were for the company's offices in India, and the rest were based in the US headquarters in Minnesota. The job listings included salary ranges. Here's a deeper look at some of the roles Target disclosed for tech workers: Software engineers can earn up to $353,000 Senior Engineer: $103,605 to $184,700 Principal Engineer: $122,741 to $353,000 Data scientists can make more than $122,000 Senior Data Scientist: $122,637 to $184,700 Lead Data Analyst: $139,298 to $200,200 Principal Data Scientist: $211,536 to $347,600 Director-level roles can bring in over $206,000 Director Engineering: $206,398 to $289,700 Director Tech: $206,398 to $289,700 Principal Technical Program Manager: $251,576 to $311,900
