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JCP Sale Hearing on Track—But One Big Sticking Point Remains

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J. C. Penney still needs to finalize a sale contract, but a sale hearing is set for Nov. 2 and it could exit bankruptcy before Christmas.
A JCPenney store at the Newport Centre Mall in Jersey City, N.J.
CREDIT: Albin Lohr-Jones/Sipa USA via AP

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There are still some “ifs” clouding the J. C. Penney bankruptcy case, but for now the sale hearing remains on track for Nov. 2. JCP has filed its draft asset purchase agreement with Copper Retail JV LLC and Copper BidCo LLC, representing the OpCo and PropCo components, respectively, a Credit and Guaranty Agreement for related…

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