JCPenney Stores Sold to Private Equity For $947 Million: How Will It Impact The 119 Stores Included in the Deal?

A JCPenney location in Aventura, Florida. (Credit: Phillip Pessar/Flickr)

JCPenney stores–once part of the vibrant department store chain in the US–have sold 119 of its stores to private equity firm Onyx Partners Ltd., as announced by Copper Property CTL Pass Through Trust.

The move is part of JCPenney's ongoing restructuring of the business, following its bankruptcy filing in 2020, amid rising competition from e-commerce platforms.