J.C. Penney gets multiple bids for three properties; auction Sept. 14

By Caroline Salls

Pittsburgh, Sept. 11 – J.C. Penney Co., Inc. will hold an auction on Sept. 14 for three lots of real property assets, according to a notice filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

Specifically, the company said it received more than one bid for properties in Berlin, Vt.; Cape Coral, Fla. and West Mifflin, Pa.

No auctions will be held for 16 other properties for which J.C. Penney only received one bid.

The sale hearing is scheduled for Sept. 28 and the sales are expected to close on or around Sept. 29.

The apparel and home furnishings retailer is based in Plano, Tex. The company filed bankruptcy on May 15 under Chapter 11 case number 20-20182.

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