This is a real estate transaction, they have no intention to merge jc Penny and belk, they want the real estate to sell, then they pile the debt on to belk making it in worse shape than it is now. They are saying they INTEND to open more Belk’s, I doubt that will ever happen
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Several, including Amazon, were looking at JC Penney for real estate. As internet sales continue to drive business, looking forward to future they need inner mediate zones for supply chain demand. Some may have Belk logos, but will not be retail stores. Just another pass thru for Sycamore private label distribution. Some of the private labels are “exclusive to Belk,” big owned by Sycamore. They’re gain, our loss again?