What An Amazon-J.C. Penney Deal Could Mean For Retail Real Estate
Amazon could be the next owner of embattled J.C. Penney, and experts say the transaction would be less focused on the bankrupt department store’s business and more on its real estate. The e-commerce giant in recent weeks is said to be considering a purchase of the department store, which filed for chapter 11 protection last month. According to an S&P Global Market Intelligence report, a potential deal would focus on acquiring some of J.C. Penney’s physical locations, rather than trying to save the brand. “I personally think [a prospective deal] is for the real estate, not because they are interested in resurrecting a brand that’s been struggling for a number of years,” Dick Seesel, manager and owner of the consultancy Retailing In Focus, told S&P Global. Read more at Globe St.
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Thank You!