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J.C. Penney Gets Temporary Reprieve Amid Reports of Possible Amazon Interest

August 10, 2020, 09:10 AM
Filed Under: Retail

Lenders to bankrupt retailer J.C. Penney have extended a key deadline requiring the company to find a buyer after it was reported that Amazon is eyeing some of the company's properties as possible fulfillment center. The lenders gave the 118 year old retailer an extra three days to find a bidder, offering Amazon a pathway should it choose.

According to The Dallas Morning News, when J.C. Penney filed for bankruptcy in May with a plan to split the company in two. One business would continue to operate the J.C. Penney of stores, and the other would be a real estate investment trust that would own Penney property, including stores and distribution centers.

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