J.C. Penney Has Acquisition Offers From Three Different Buyers
Recent rumors about bankrupt department store company J.C. Penney (OTC: JCPN.Q) merging and disappearing if it is bought out by private equity firm Sycamore Partners were countered today by Joshua Sussberg, a lawyer for the retailer.
Speaking in court, Sussberg rejected the idea that any of the potential purchasers planned to combine J.C. Penney with another company and thus extinguish its brand name. All of the bidders, left unnamed for confidentiality reasons, mean to run the retailer as a stand-alone department store after buying it and getting it out of bankruptcy, he said.
Image source: JC Penney
Source Fool.com