Sycamore Partners, After Exiting the Victoria’s Secret Deal, May Now Buy JC Penney

Rhian Hunt, The Motley Fool

June 5, 2020 at 6:38 p.m.·2 min read

Sycamore Partners, After Exiting the Victoria’s Secret Deal, May Now Buy JC Penney

Having recently disentangled themselves from an acquisition deal to buy the ailing Victoria's Secret brand from L Brands (NYSE: LB) for $525 million, New York private equity firm Sycamore Partners may now be zeroing in on bankrupt retailer JC Penney (NYSE: JCP). Reuters reports knowledgeable sources say that Sycamore is sizing up its chances to buy JC Penney, or invest in it without an outright acquisition. The news is yet another twist in the ever more complex web of deals, offers, and legal maneuvers surrounding JC Penney's attempts to navigate bankruptcy and emerge as a viable retail company on the other side.

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