DALLAS (WBAP/KLIF) – Plano-based J.C. Penney will live to fight another day.
Following a ten hour hearing Monday the bankruptcy court judge approved the sale of the 108-year-old retailer to its two largest landlords and its primary lenders.
The reorganization will wipeout more than $3 billion of debt.
J.C. Penney has more than 600 stores and more than 60-thousand employees.
