JCPenney will sell 119 stores, including three in Washington, for $947 million.
SEATTLE — Three JCPenney locations are being sold in Washington state as part of a nearly $1 billion, 119-store nationwide sell-off.
JCPenney announced last week that a Boston-based private equity firm will purchase 119 of its properties for $947 million, five years after the former retail giant filed for bankruptcy.
The deal is scheduled to close on or before Sept. 8. According to USA Today, money from the transaction will go to JCPenney creditors.
JCPenney, which has nearly 650 store locations across the country, emerged from a Chapter 11 bankruptcy
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