JC Penney Outlets Out

JC Penney will transfer ownership of its Outlet Stores to SB Capital Acquisitions, LLC within the next 30 to 60 days with no changes to its JC Penney agreement for JC Penney retail. SB Capital plans to continue operating the Outlet Stores as an on-going business and keep the current JC Penney management team and associates in the Outlet Stores. At the time of closing, SB Capital will have no debt on the inventory in the stores and the JC Penney name will change 21 or more months from now.