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Sycamore Partners should not be allowed to buy JCPenney out of bankruptcy because of its long history of closing stores and decimating jobs, a worker advocacy group said Tuesday. A group of current and former retail workers from Toys ‘R’ Us, Kmart, Sears and other bankrupt retailers are sounding the alarm about the Big Apple-based …
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Private equity firm Sycamore Partners is in preliminary talks to acquire JCPenney out of bankruptcy should the US department store chain’s negotiations with its creditors fail, three people familiar with the matter said on Friday. Shares of JCPenney jumped almost 55 percent on the news. JCPenney, which employs roughly 85,000 people, filed for bankruptcy protection …
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LVMH Chief Executive Bernard Arnault is exploring ways to reopen negotiations on the French luxury goods giant’s $16.2 billion acquisition of jewelry chain Tiffany & Co, as US social unrest and the coronavirus pandemic weigh on the retail sector, people familiar with the matter said on Wednesday. LVMH agreed to acquire Tiffany in November, but …
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A deal to sell Victoria’s Secret has been scrapped after its private equity buyer sued to get out of the deal on a coronavirus-related claim. L Brands — the retail conglomerate owned by billionaire Les Wexner — said Monday it has scrapped its deal to sell a controlling stake in the struggling lingerie chain to …
Sycamore Partners should not be allowed to buy JCPenney out of bankruptcy because of its long history of closing stores and decimating jobs, a worker advocacy group said Tuesday. A group of current and former retail workers from Toys ‘R’ Us, Kmart, Sears and other bankrupt retailers are sounding the alarm about the Big Apple-based …
