Community Chat

[4kitties]

Just read this in The Daily Mail.

Hate to hear this as I love Kohl's. 😩😩😩

[Mz iMac]

JCP has filed bankruptcy, closed stores, etc. how many times?????  Now they are flushed w/$$$$ to purchase another retail store?

[sunshine45]

i hope not!

i love our kohls. they just recently remodeled, have added a sephora inside, and they accept amazon returns with no boxes or labels required from me. so convenient. i also like when they give me $5 to spend on something in the store when i do an amazon return.

[Jordan2]

How is JC Penney in any position to acquire Kohl's, I thought they filed for bankruptcy? The Penney's near me closed. 

[Kachina624]

Ask yourselves, "how reliable is The Daily Mail?"

[Mz iMac]

The OP topic is misleading........

According to the article in part: 

The owners of department store giant JCPenney have reportedly made a multibillion-dollar offer to acquire one of the chain's biggest rivals - Kohl's - two years after filing for bankruptcy and shutting down nearly a third of its stores.

The proposal from Simon Property and Canada-based Brookfield Asset Management - which together scooped the shopping mall stalwart out of bankruptcy in December 2020 to the tune of $1.5 billion - offers to buy the store at $68 a share, bringing the total value of the deal to $8.6 billion.

A source reportedly told The New York Post, the first to break the story, that the owners plan to maintain the identity of the two competing brands while streamlining operations and cutting costs by roughly $1 billion over the next three years.

The two chains would reportedly be run by a single management team during the initial stages of the merger, the source said. The companies also would have all of their in-house apparel manufactured by the same label. 

If successful, the new business would nix previous plans to roll out Sephora stands inside its 689 Kohl’s stores, the insider revealed. 

Simon Property Group and Brookfield Asset Management bought JCPenney after store brass filed for Chapter 11 in May 2020. The chain closed down nearly 200 locations across the US during the initial months of the pandemic.

Kohl's, meanwhile, has reportedly been engaged in talks with more than 20 prospective buyers about a potential sale, with company brass saying the firm is authorized to coordinate with select bidders. 

The retailer said in February that it rejected all takeover offers received at that point, citing the bids as too low - including a $64-a-share offer from Acacia Research Corp., which is backed by hedge fund Starboard Value LP. 

The fund has held positions in notable brands like Smithfield Foods, Yahoo, Brink's Home Security, Macy's, and Papa John's Pizza. 

J.C. Penny is NOT buying or making offers to anybody!

[CAcableGirl2]

If true, that reeks of Kmart acquiring Sears.  Now both retailers are gone.

I like Kohls and shop there occasionally.  I can't remember the last time I was in JCPenney.

[Snowpuppy]

If you follow business news it's no secret Kohl's is looking for a buyer. 

I liked my local JCP back in the day. Good products and I frequented a stylist at their salon. Kohls played too many pricing games for me. Today's sale was not tomorrow's sale.

Sadly, haven't been in either store in 10 yrs. The local JCP has closed.

[elated]

I always liked JCP until they closed the store near me. Kohl's store turned into a junk store. It was nice and then the store looked like you walked into a tornado. Merchandise displays were all disheveled. I quit going into the store. The petite section was even worse.  JCP had a nice petite section and I was able to find many nice pieces of clothing. 

[ID2]

Geez go right ahead! I don't shop Pennys or Kohl's. Horrible stores. Cheap junk is all they sell.