Sale Negotiations Between J.C. Penney, Landlords Break Down

The future of J.C. Penney (OTC: JCPN.Q) is in more serious doubt than ever following the collapse of talks between the troubled retailer and two of its landlords regarding a sale. The impasse was revealed by Joshua Sussberg, a lawyer representing J.C. Penney, in a bankruptcy court hearing on Monday.

According to Sussberg, discussions between the retailer and two landlords, real estate investment trust (REIT) Simon Property Group (NYSE: SPG) and real estate investment company Brookfield Property Partners (NASDAQ: BPY), occurred this past weekend.

Image source: J.C. Penney.

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Source Fool.com