Sycamore Partners Reportedly in Talks to Buy J. C. Penney
There is no certainty that the talks between Sycamore and JCPenney will result in a deal, which would require a bankruptcy judge's approval, the sources said. JCPenney is also in touch with some of its landlords, including Brookfield Asset Management Inc. (TSX:BAM.A) and Simon Property Group, Inc. (NYSE:SPG), about possible transactions, the sources said. Under one scenario being explored, Sycamore, Brookfield and Simon would join forces on a bid for JCPenney, two of the sources said. The sources requested anonymity because the discussions are confidential. Sycamore and JCPenney declined to comment. Brookfield had no immediate comment while Simon did not immediately respond to a request for comment.