Parkdale Plaza was a shopping mall located in Corpus Christi, Texas , United States. It opened in 1957 and closed in 2010 to be torn down for a Walmart .
88-504: The original three major stores at Parkdale Plaza were JCPenney , Whites Stores, and H-E-B . Other major tenants included Western Auto , Piccadilly Cafeterias , Larry Robinson (a Corpus Christi photography studio), and the Toy House, as well as Neisner's five and dime. When H-E-B moved, Texas Gold Stamp center also owned by H-E-B took its place as an anchor store. JCPenney moved to Padre Staples Mall (now La Palmera ) in 1970. A Woolco store
176-659: A "Jacques Penne" pop-up shop in Manhattan during the 2017 holiday season. In 2018, the JCPenney at Plaza Palma Real in Humacao, Puerto Rico closed permanently, after Hurricane Maria devastated the store in September 2017. In May, JCPenney reported an adjusted loss of $ 69 million in the first quarter, even worse than Wall Street predicted, and lowered its projections for the year. Sales fell 4%, also missing estimates. Earlier in 2018,
264-534: A "leading global facilities management provider". BGIS expanded rapidly following Brookfield's taking control of BGIS in 2015, In 2016, when BGIS acquired the US-based data centre facility management service—McKinstry FMS—which had over "350 engineers, technicians, planners and program managers", BGIS became one of the largest facility management companies serving data centres in North America. By 2017, when Gord Hicks
352-569: A $ 182.3 billion bailout package from the federal government, which Brookfield argued overturned AIG's bankruptcy protection. The insurance firm countersued, claiming that Brookfield was trying to get out of its $ 1.5 billion debt to AIG. The litigation ended with Brookfield paying $ 905 million to settle the lawsuit. In March 2013, the Southern Investigative Reporting Foundation called into question Brookfield's makeup. The analysis written by Roddy Boyd accused
440-670: A 16.6% stake in Martha Stewart Living Omnimedia, intending to create "mini-Martha Stewart shops" in its stores by 2013. In early 2012, JCPenney implemented a new pricing strategy, replacing sales with "Every Day" prices, but saw a 22% sales decline by mid-year. The company also experienced staff cuts, laying off 1,600 employees in January and 600 more in April 2012. Johnson was dismissed in April 2013 and replaced by former CEO Mike Ullman . In late 2013, JCPenney faced challenges in
528-601: A 99-year lease on the financially troubled 666 Fifth Avenue skyscraper, of Donald Trump 's son in law Jared Kushner . The deal raised suspicions that the Qatar Investment Authority , a major investor in Brookfield, was attempting to influence the Trump administration . In November 2020, it was revealed that Brookfield might be partnering with telecommunications giant Rogers Communications to introduce condominiums to
616-508: A J. C. Penney in Des Moines, Iowa . Walton subsequently founded retailer Walmart in 1962. By 1941, J. C. Penney operated 1,600 stores in all 48 states. In 1956, J. C. Penney started national advertising with a series of advertisements in Life magazine. J. C. Penney credit cards were first issued in 1959. The company dedicated its first full-line shopping-center department store in 1961. This store
704-662: A group called Birch Mountain Shareholders for Justice filed a lawsuit with the Ontario Superior Court of Justice against Brookfield Asset Management, challenging an acquisition and transfer of assets. Birch Mountain had run into financial troubles and accused Brookfield of financial engineering that resulted in Brookfield acquiring the company's $ 1.6 billion limestone quarry for $ 50 million. According to Birch Mountain, Brookfield had made use of death spiral financing and insider trading . After five years of litigation
792-599: A group of stores that were divested because of trade competition issues raised during the merger.) On December 9, 1998, The New York Times reported JCPenney would acquire controlling interest of Lojas Renner for a little over $ 33 million, which increased the company's maneuvering ability with their already existing units in Chile, Mexico and Puerto Rico . In 1998, JCPenney launched its Internet store . Between 1995 and 1998, JCPenney entered Indonesia under partnership with Lippo Group (under their Multipolar investment arm) with
880-483: A juniors clothing line) and the introduction of more skate/surf-oriented clothing, including Rusty, RS by Ryan Sheckler and 3rd Rail. In August, Albert Gonzalez 's defense lawyer announced JCPenney was a victim of a computer hacker , although the company stated that no customers' credit card information had been stolen. That year, JCPenney reached an agreement with Seattle's Best Coffee to feature full-service cafes within leased departments inside JCPenney stores across
968-531: A new Golden Rule store. Using money from savings and a loan, Penney joined the partnership and moved with his wife and infant son to Kemmerer, Wyoming , to start his own store. Penney opened the store on April 14, 1902. He participated in the creation of two more stores and purchased full interest in all three locations when Callahan and Johnson dissolved their partnership in 1907. In 1909, Penney moved his company headquarters to Salt Lake City , Utah to be closer to banks and railroads. By 1912, Penney had 34 stores in
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#17330862634151056-439: A planned closing a total of 242 stores. Since the initial filing, rumors of potential buyers included Amazon , Sycamore Partners , and a group consisting of Authentic Brands ( Forever 21 , Aeropostale , Barneys ), and mall owners Simon Property Group and Brookfield Properties. On July 8, JCPenney submitted their bankruptcy exit plan to existing lenders, and also requested more time for negotiations. On July 31, 2020, it
1144-530: A preview of an upcoming product line. In February 2008, the company launched the American Living brand, as developed by Ralph Lauren , across several product lines. The launch, which was accompanied by an ad campaign during the 80th Academy Awards , was the company's largest private brand launch. That summer, JCPenney also added a new brand to its home collection, Linden Street. The Linden Street brand features furniture, domestics, and home decor. Linden Street
1232-514: A prize at the Cannes Lions International Advertising Festival . The ad was criticized for seeming to promote teen sex. JCPenney denied that the ad was theirs and their advertising agency Saatchi & Saatchi reported that it had been created by a third-party vendor. It was entered in the competition by Epoch Films, who declined to comment. Marketing expert John Tantillo advised that the company distance itself from
1320-867: A public company to develop hydro-electric power operations and other utility services in Brazil, becoming a holding company for São Paulo Tramway Co. and Rio de Janeiro Tramway Co. In 1916, Great Lakes Power Company was incorporated to provide hydro-electric power in Sault Ste. Marie and the Algoma District in Ontario. In 1959, Edper Investments , founded by brothers Peter and Edward Bronfman , acquired Brazilian Traction, Light and Power Company for $ 15 million. In 1966, Brazilian Traction, Light and Power Company changed its name to Brazilian Light and Power Company, and again in 1969, changed its name to Brascan Limited. Brascan
1408-417: A six-year, $ 1 billion deal with JCPenney to sell a line of affordable clothing, accessories, cosmetics, and perfumes ranging in price from $ 24 to $ 200. The move was considered controversial then as no other high-end designer up to that point in time had licensed their designs to a mid-price retailer. The line, named Halston III, would not last long, as it would be poorly received and discontinued after about
1496-551: A wave of millennials who are buying first-time homes. In February, JCPenney opened a support center in Bangalore , India. In January 2017, JCPenney sold its headquarters campus and surrounding land in Plano, Texas, to Dreien Opportunity Partners as a leaseback sale to maintain operations at the location. The land has since been broken up and sold and developed. Space inside the headquarters building has been subleased. Part of this land
1584-650: A year. However, the business move paved the way for other such high-end designers to sell their products at stores of varying price ranges in the future. In 1984, JCPenney acquired the First National Bank of Harrington, Delaware and renamed it J. C. Penney National Bank. With the acquisition of the bank, the company became able to issue its own Mastercard and Visa Inc. cards. The company also began accepting American Express cards. Also that year, Thrift Drug began co-locating stores with Weis Markets , and acquired many former Pantry Pride properties. In April 1987,
1672-538: Is a portmanteau of "Brasil" and "Canada". During the 1970s, the company began to sell its Brazilian interests, and invested more heavily in industries such as real estate, timber and mining. In 1979, the last of the company's Brazilian assets were transferred to Brazilian ownership ( Eletropaulo and Light S.A.), the company meanwhile having diversified to other areas. The company provided electricity and tram services in São Paulo and Rio de Janeiro. After restructuring,
1760-548: Is actually aiming to be net-zero by 2050, For the fiscal year 2018, Brookfield Asset Management reported earnings of US$ 3.584 billion, with an annual revenue of $ 56.771 billion, an increase of 39.2% over the previous fiscal cycle. Brookfield Asset Management's shares traded at over $ 38 per share, and its market capitalization was valued at over $ 40.8 billion in November 2018. Brookfield Asset Management's shares traded at $ 32.71 per share, and its market capitalization
1848-472: Is one of the world's largest alternative investment management companies, with over US$ 900 billion of assets under management in 2023. It focuses on direct control investments in real estate, renewable power , infrastructure, credit and private equity. The company invests in distressed securities through Oaktree Capital , which it bought in 2019. Brookfield's headquarters are in Toronto . The company
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#17330862634151936-410: Is sold exclusively in JCPenney stores and through its website. Other brands for juniors and young men were launched that summer. They included a relaunch of Le Tigre , along with Decree, and Fabulosity, a junior line of clothing by Kimora Lee Simmons . In July 2009, new additions were made to the JCPenney young men's department, including an expansion of its private brand Decree (previously exclusively
2024-742: Is supported by the United Arab Emirates to enhance climate finance in emerging markets. Launched at COP28 in Dubai in December 2023, the fund was anchored by a $ 1 billion commitment from ALTERRA, a UAE-based climate fund with a goal of attracting $ 250 billion in investments by 2030. Notable investors for CTF included Caisse de dépôt et placement du Québec , Prudential plc , and Temasek and GIC . In October 2024, Brookfield Asset Management outbid Segro to acquire European property company Tritax EuroBox for US$ 1.44 billion, including debt. In September 2010,
2112-450: Is unclear whether she was fired or resigned. On January 1, 2021, Soltau was replaced by Simon Property's chief investment officer, Stanley Shashoua. On June 4, 2020, JCPenney released a list of 148 stores slated to close starting in late June 2020, with eleven additional store closures announced on June 22 and two additional stores on July 7, with the previously announced store closing locations remaining on hold pending further review, for
2200-496: The 79th Academy Awards in late February 2007. After JCPenney sold off Eckerd in 2004, the locations that continued to operate as Eckerd (some locations in the Southern U.S. were sold to CVS Corporation ) still had JCPenney Catalog Centers inside the stores (which was a carryover from locations that were once Thrift Drug ) and also continued to accept JCPenney credit cards. After Rite Aid finalized its acquisition of Eckerd in 2007,
2288-507: The COVID-19 pandemic for its action. By June 17, JCPenney reopened approximately 827 stores; most of the 154 scheduled for permanent closure in 2020 were among those reopened, with final closing sales in progress. On June 22, JCPenney identified an additional 13 stores that would be permanently closed. On July 7, 2020, JCPenney announced that they would close two stores in New York City; one at
2376-830: The JCPenney style in advertising. and its revenues reached $ 5 billion (equivalent to $ 37.6 billion in 2024) for the first time and catalog business made a profit for the first time. JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. However, the company was hard hit by the 1974 recession with its stock price declining by two-thirds. In 1977, J. C. Penney sold its four stores in Italy to Italian department store chain La Rinascente ; Penneys had opened in Italy in 1970 but left due to difficulties encountered when trying to expand in Italy and had only ever opened stores in
2464-583: The Lombardy region. In the same year they also closed down their unprofitable Supermarkets Interstate supermarket brand which operated in Treasury discount stores; however, the stores that were not in Treasury locations remained open. In 1978, the J. C. Penney Historic District in Kemmerer, Wyoming, was designated a U.S. National Historic Landmark . In 1979, JCPenney stores started accepting Visa cards. MasterCard
2552-634: The Manhattan Mall , which was closed immediately and the Kings Plaza store in Brooklyn, which closed on Sunday, September 27, 2020. On December 17, 2020, JCPenney announced that they would close 15 additional stores in March 2021. As of June 2021, there have been a total of 175 store closures. On December 30, 2020, it was announced that Jill Soltau would step down as CEO of JCPenney, effective December 31, 2020. It
2640-469: The $ 600 billion Brookfield Asset Management portfolio was carbon neutral . He based his claim on the fact that Brookfield has a large renewable energy portfolio and "all the avoided emissions that come with that". The claim was criticized as an accounting trick, as avoided emissions do not counteract the emissions from investments in coal and other fossil fuels responsible for a carbon footprint of about 5,200 metric tons of carbon dioxide. The company
2728-612: The 1960s, JCPenney expanded to include Alaska, Hawaii, and Puerto Rico. Stores were opened in Anchorage and Fairbanks , Alaska in 1962, followed by Honolulu , Hawaii in 1966, and Puerto Rico in 1968. The Penney Building in Anchorage partially collapsed and was damaged beyond repair in the 1964 Alaska earthquake . The company rebuilt the store as a shorter building on a larger footprint and followed up by building Anchorage's first public parking garage, which opened in 1968. The Honolulu store
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2816-557: The 1960s, the chain began relocating and developing stores to anchor the malls. In recent years, JCP has opened stores in power centers , as well as stand-alone stores, sometimes adjacent to competitors. The company has been an Internet retailer since 1998, and it has streamlined its catalog and distribution while undergoing renovation improvements at store level. After filing for Chapter 11 bankruptcy protection in May 2020, Brookfield Asset Management and Simon Property Group agreed to purchase
2904-525: The 1980s JCPenney's also stopped selling outdoor equipment and hardware such as lawn mowers and tools. Construction on the new company headquarters in Plano, Texas broke ground in 1990 and were completed in 1992. When Sears closed its catalog business in 1993, JCPenney became the largest catalog retailer in the United States. In 1995 the chain expanded to Chile with a store in the capital, Santiago . In 1995,
2992-470: The Ambrielle lingerie label, which became its largest private brand launched in the company's history. JCPenney also re-introduced cosmetics with the opening of Sephora " stores-within-a-store " inside some JCPenney locations. Beginning in 2007, JCPenney's store slogan changed from "It's All Inside" to "Every Day Matters." The new slogan and associated ad campaign was launched in television commercials during
3080-470: The Catalog Centers inside the soon-to-be-converted stores permanently closed. Although as a result of the acquisition, Rite Aid now accepts JCPenney credit cards, even at Rite Aid locations that existed before the acquisition of Eckerd. In November 2007, the company launched a new public website, JCPenneyBrands.com, which covers the company's private and exclusive brands and its branding strategy, as well as
3168-722: The Plaza in 1999. Entering 2000, the Plaza had no more than 45% of spaces being leased. Weiner's Department Store filed for bankruptcy in 1999 and caused the Parkdale Plaza store to shutter in June 2001. Rehoboth Joy Dollar took over vacant old Weiners Store in 2001. Eckerds sold to CVS pharmacy and closed the Parkdale Plaza location, which became Guitar Center in 2002. In 2005, an investor from Austin bought Parkdale Plaza. On January 1, 2006, Crystal's, Joy Dollar, Linens N' More, RDA, and Armstrong McCall closed their store locations in accordance with
3256-498: The Rocky Mountain States. In 1913, all stores were consolidated under the J. C. Penney banner. The so-called "mother store", in Kemmerer, opened as the chain's second location in 1904. In 1913, the company was incorporated under the new name, J. C. Penney Company, with William Henry McManus as a co-founder. In 1914, the headquarters was moved to New York City to simplify buying, financing, and transportation of goods. By 1917,
3344-526: The Simon and Brookfield retail portfolio, therefore superseding and annulling previous agreements for Sephora to leave JCPenney in favor of Kohl's. The company returned to its Plano, Texas, headquarters in July 2023. The reopened headquarters contains over 2,000 workers and occupies three floors. In June 2008, an ad called "Speed Dressing" emerged ending with the JCPenney logo and slogan "Every Day Matters". The ad won
3432-634: The Year for the BGIS sale. By 2018, Brookfield's major public subsidiaries included Brookfield Infrastructure Partners, Brookfield Renewable Partners, Brookfield Property Partners, and Brookfield Business Partners. In August 2018, Brookfield purchased Westinghouse Electric Company , a manufacturer of large nuclear reactors, out of bankruptcy for $ 4.6 billion. On March 13, 2019, Brookfield Asset Management announced that it had agreed to buy most of Oaktree Capital Management for about $ 4.7 billion, creating one of
3520-753: The acquisition of General Merchandise Company which gave them The Treasury stores. These discount operations proved unsuccessful and were shuttered in 1981. In 1963, J. C. Penney issued its first catalog. The company operated in-store catalog desks in eight states. The catalogs were distributed by the Milwaukee Catalog distribution center. In 1969, the company acquired Thrift Drug , a chain of drugstores headquartered in Pittsburgh , Pennsylvania. It also acquired Supermarkets Interstate , an Omaha -based food retailer which operated leased departments in J. C. Penney stores, The Treasury stores, and Thrift Drug stores. In
3608-414: The branding JCPenney Collections , also used by multiple international JCPenney branches across Asia during the decade. This type of JCPenney store only featured fashion for men, women and kids. During its tenure, JCPenney opened two flagship stores: in 1995 on the upper ground level of Lippo Supermal (now Supermal Karawaci), and in 1996 on the upper ground and first level of Mal Taman Anggrek . Aside from
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3696-636: The building control industry. By 2012, Brookfield and Johnson Controls became an established industry leader with 11,500 locations across Canada. In 2007, Brookfield Asset Management acquired the Multiplex , an Australian international construction contracting company founded in 1962 by John Roberts . which was valued at that time at approximately A$ 7.3 billion. It was renamed Brookfield Multiplex in 2016. In 2012 Brookfield Asset Management and Johnson Controls Global WorkPlace Solutions (GWS) merged to create Brookfield Johnson Controls. In 2002, Bruce Flatt
3784-460: The case was dismissed, based on the fact that Birch Mountain had failed to present credible evidence. In May 2015, the plaintiffs filed a notice of appeal, but their case was likewise dismissed two years later. In 2009, Brookfield sued financial and insurance giant American International Group (AIG) in a Manhattan federal court, alleging that AIG's collapse caused default provisions in interest-rate swaps . The suit stemmed from AIG's acceptance of
3872-401: The case, the investigation and filing of charges was initiated by a whistleblower and anonymous tip. Later it was revealed that the whistleblower was the former CFO of a Brookfield subsidiary. She claims she was fired for refusing to participate in Brookfield's bribery scheme. The company disclosed the investigations on several 6-K forms between 2013 and 2015. In August 2018, Brookfield signed
3960-540: The commercial and also shed the publicity it engendered. Beginning with the Marathon Hats line, JCPenney has introduced multiple private brands, partially in response to suppliers denying access to expected inventories. JCPenney locations that are listed on the National Register of Historic Places (NRHP): Brookfield Asset Management Brookfield Corporation is a Canadian multinational company that
4048-650: The companies to split the revenue from those facilities. On December 9, 2022, the company's name was changed from Brookfield Asset Management Inc. to Brookfield Corporation. Brookfield Corporation then spun-off 25% interest in their asset management business into the new publicly listed Brookfield Asset Management Ltd. In 2024, Brookfield Asset Management entered into an agreement with Microsoft to develop around 10.5 gigawatts of new renewable energy capacity to build new wind and solar farms. On 23 September 2024, Brookfield Asset Management announced that it had raised $ 2.4 billion for its Catalytic Transition Fund (CTF), which
4136-425: The company announced it would cut 360 jobs at its stores and corporate headquarters. The company lowered its earnings forecast for the year to 13 cents per share at best, and said it could lose as much as 7 cents. JCPenney finished the quarter with just $ 181 million in cash, down from $ 363 million a year ago. Much of the big decrease was because of a $ 190 billion debt replace. On May 22, JCPenney announced
4224-493: The company announced that it was moving its headquarters to Plano, Texas . After several years of development, the JCPenney Television Shopping Channel appeared on cable systems beginning in 1989. By the mid-1980s, all JCPenney stores had discontinued sales of firearms. Before this point, JCPenney carried rifles and shotguns branded as JCPenney but produced by numerous established firearms manufacturers. In
4312-903: The company emerges from bankruptcy it is poised to save nearly 60,000 jobs, according to various independent studies. The company was paying $ 2.45 million in monthly rent at the time it sold its headquarters offices in Plano, Texas in 2017; the location was permanently vacated in November 2020. In October 2021, the company opened 10 new shop-in-shop locations across the US, featuring a wide variety of brands, including indie and BIPOC brands, including flagship partner Thirteen Lune . Marc Rosen became CEO in 2021. In April 2022, JCPenney's owners—Simon and Brookfield—offered $ 8.6 billion to purchase Kohl's . Sephora had already announced plans to contract exclusively with Kohl's by 2023, and had piloted Sephora Inside Kohls at select store locations. With this deal, Sephora would remain affiliated with, and under control of,
4400-897: The company for approximately $ 800 million in cash and debt in September 2020. The deal was approved by the U.S. bankruptcy court for the Southern District of Texas two months later. James Cash Penney was born in Hamilton, Missouri . After graduating from high school, Penney worked for a local retailer. He relocated to Colorado at the advice of a doctor, hoping that a better climate would improve his health. In 1898, Penney went to work for Thomas Callahan and Guy Johnson, who owned dry goods stores called Golden Rule stores in Colorado and Wyoming. In 1899, Callahan sent Penney to Evanston, Wyoming , to work with Johnson in another Golden Rule store. Callahan and Johnson asked Penney to join them in opening
4488-428: The company of using a pyramidal control structure, alleging that a small group of shareholders hold outsized power and may easily use the capital of other investors without risking their own. In 2013, a Brazilian prosecutor filed charges against the company's local division, alleging the company paid bribes to local officials, which is also a violation of U.S. federal criminal law. The bribes were allegedly used to pave
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#17330862634154576-526: The company on retail. In 2003, the company opened three stores in strip centers in Texas , Minnesota and Indiana . The new one-level, 94,000 sq ft (8,700 m ) format stores focus on convenience with wider aisles and centralized checkouts. In 2004, the company added 14 more stores and exited the drug store division after 35 years, with the sale of its Eckerd division. The company also sold its six Mexico stores to Grupo Carso , which rebranded five of
4664-580: The company operated 175 stores in 22 states in the United States. J. C. Penney acquired The Crescent Corset Company in 1920, the company's first wholly owned subsidiary. In 1922, the company's oldest active private brand, Big Mac work clothes, was launched. The company opened its 500th store in 1924 in Hamilton, Missouri, James Cash Penney's hometown. By the opening of the 1,000th store in 1928, gross business had reached $ 190 million (equivalent to $ 3.37 billion in 2024). In 1940, Sam Walton began working at
4752-472: The company's Brazilian portfolio operated as Light S.A. , short for Brazilian Traction, Light and Power Co. Ltd. In 1992, Brookfield and Johnson Controls was established through a merger in Canada of Brookfield and Johnson Controls —a building systems and facility management company that was founded in the late 19th century by Warren S. Johnson , whose invention of the first electric room thermostat helped launch
4840-436: The country. Seattle's Best Coffee is still expanding café locations within JCPenney locations across the country. In 2010, Vornado Realty Trust acquired a 9.9% stake in JCPenney but sold it in 2013 for $ 13.00 per share. On January 24, 2011, JCPenney shut down its catalog business and 19 outlet stores. Seven additional stores and two call centers also closed. On February 12, 2011, The New York Times revealed that JCPenney
4928-543: The drug store business was expanded with the acquisition of Kerr Drug and again in 1996 with the purchase of Fay's Drug . Then in November 1996 they acquired the Eckerd chain. Fay's, Kerr, and Eckerd merged into J. C. Penney's drug store subsidiary Thrift Drug. Fay's, most Kerr, and Thrift drug stores were re-branded Eckerd in 1997. (Kerr Drug stores in The Carolinas remained branded as such because they were part of
5016-561: The entry of Brookfield in India's hospitality market. In 2020, in response to the COVID-19 pandemic , Brookfield's CEO Bruce Flatt assessed that the economic fallout was "much more manageable" than previous meltdowns. In October 2020, Mark Carney , departing Governor of the Bank of England , became a vice-chair of Brookfield, leading the firm's environmental, social and governance (ESG) and impact fund investment strategy. On April 25, 2022, it
5104-512: The following business day. On March 18, JCPenney announced all retail stores would temporarily close in response to the global COVID-19 pandemic until April 2. On March 31, JCPenney announced an extension of the planned April 2 reopening, with a new date not possible to be determined at the time. On May 1, JCPenney announced a limited number of stores would reopen. On May 15, 2020, JCPenney filed for Chapter 11 bankruptcy and announced that there would be an additional 242 store closings, blaming
5192-412: The former Woolco store around the late 1980s to early 1990s, and Weiner's moved into the former JCPenney. Cloth World was bought out by Jo-Ann Stores and closed in 1994. Decorator's Gallery was shut down in 1994 as well. The Decorator's Gallery building remained empty throughout the 1990s. Club Dallas took over the back side of the Plaza. In 1995, Parkdale Plaza had about 65% leased. Dollar General came to
5280-467: The fourth major national retailer to file for bankruptcy in May 2020. Days earlier, it was reported in a regulatory filing that JCPenney would give bonuses totaling nearly $ 10 million to the company's senior managers, which included $ 4.5 million to CEO Jill Soltau . After 91 years, it was delisted from the New York Stock Exchange on May 18, 2020, and started trading over-the-counter
5368-418: The largest vendor contracts at that time. The vendor with the second largest federal government contracts in 2021-2022 was IBM Canada with a contract valued at c. 476 million. In 2019, Brookfield Asset Management sold its BGIS shares to CCMP Capital Advisors —an American private equity investment firm—for over CAD$ 1.3 billion with Hicks remaining as CEO. and was awarded the 2020 Private Equity Deal of
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#17330862634155456-779: The mall that same month (having to close down for a period of time due to damage caused by arson in other sections of the mall). Currently, the previous stores are occupied by H&M at Supermal Karawaci and Matahari Department Store at Mal Taman Anggrek respectively. JCPenney left Chile in 1999, after five years in the country it closed down its home store and sold its main store in Santiago to Almacenes Paris . The stores were closed due to low profitability and high expenses. In early 2001, JCPenney closed 44 under-performing stores. In 2001, JCPenney sold its direct-marketing insurance unit to Dutch insurer Aegon for $ 1.3 billion (equivalent to $ 2.24 billion in 2024) in cash to help refocus
5544-446: The purchase agreement. The buyer had a vision to redevelop the Plaza into a newer shopping center. Parkdale Plaza was ready for a change. In 2009, the plaza's vacant areas suffered from a mild fire. The fire caused extensive damage to the vacant stores. The stores now could not be re-leased until new buildings were built. The largely vacant shopping center became covered in graffiti and choked with overgrown grass. Parkdale Shopping Center
5632-561: The resignation of their CEO, Marvin Ellison. On October 2, JCPenney announced former Jo-Ann Stores CEO Jill Soltau as their CEO, effective October 15. With the announcement, JCPenney's shares rose 9%. The company ranked 235 on the Fortune 500 list of the largest United States corporations by revenue. She has also brought new talent and has cleaned out inventory. On December 26, the stock price of JCPenney (NYSE: JCP) fell below $ 1 per share. This
5720-463: The site of the Rogers Centre , halving the space available for sport. The original multi-purpose stadium and its land cost $ 570 million, significantly funded by taxpayers, yet was sold 15 years later to Rogers for just $ 25 million. In February 2021, Mark Carney , Vice chairman and Head of Impact Investing and ex Governor of the Bank of England , had to retract an earlier claim that
5808-491: The stock market, issuing 84 million shares amid declining margins and a return to promotional pricing strategies. In January 2015, it was announced that JCPenney would close 39 under-performing stores nationwide and lay off 2,250 employees. That same year, the company announced that it was liquidating its The Foundry Big & Tall Supply Co. chain of standalone clothing stores. In January 2016, JCPenney announced plans to relaunch its business of selling major appliances to target
5896-553: The stores as Dorian's and the other one as Sears Mexico . In 2005, JCPenney's e-commerce storefront exceeded the one billion dollar revenue mark for the first time. At the same time in June, the company would sell off its shares of Lojas Renner, the Brazilian-based retailer, generating $ 260 million from the sale as it discontinued its operations with Renner and its Latin American footholds as well. In 2007, JCPenney launched
5984-677: The two, JCPenney also opened smaller stores under the JCPenney Collections name in a few malls such as Plaza Blok M . All stores of JCPenney Collections in Indonesia started planning to close down due to 1997 Asian financial crisis – with the JCPenney Collections store in Taman Anggrek closed in December 1997, and the May 1998 riots – with the Lippo Supermal store looted by mass and also exiting
6072-472: The ultimate parent company of what is now Brookfield Global Integrated Solutions (BGIS), when it acquired control of Brookfield Johnson Controls from its joint venture partner, Milwaukee -based Johnson Controls. At that time, an activist investor had been putting pressure on Johnson Controls to divest of its real estate division. The facilities management business was renamed Brookfield Global Integrated Solutions (BGIS) as part of Brookfield's plan to establish
6160-635: The way for Brookfield to build a shopping center in São Paulo . The U.S. Securities and Exchange Commission also opened a formal investigation into the company about the bribery charges. The company denied the charges. The U.S. Department of Justice also opened a criminal investigation into the company regarding these allegations, and did not end up making any arrests. According to the Stanford Law School Foreign Corrupt Practices Act Clearinghouse, which studied
6248-518: The world's largest alternative money managers. On July 31, 2019, the sale of Vodafone New Zealand Limited to a consortium comprising Infratil Limited and Brookfield Asset Management Inc. was settled. In a deal in October 2019, Brookfield bought The Leela Palaces, Hotels and Resorts , an Indian luxury hotel chain located in New Delhi, Bengaluru, Chennai, Udaipur, in a US$ 530 million settlement, marking
6336-501: Was accepted the following year. In 1980, the company closed the unprofitable Treasury discount stores to focus resources on its core retail stores. In 1983, JCPenney discontinued its appliance, hardware, outdoor equipment, and auto center departments, and also sold its automotive centers to Firestone. Also in 1983, it began selling goods online through the Viewtron videotex service. That same year, fashion designer Roy Halston , signed
6424-494: Was announced that 21 stores, including the "Mother Store" in Kemmerer, Wyoming , would be auctioned off as part of the proceedings. On September 9, 2020, Brookfield Property Partners and Simon Property Group agreed to purchase JCPenney for about $ 800 million, including $ 300 million in cash and assuming $ 500 million of debt, which was later approved by the court on November 10, 2020. It had been established that once
6512-467: Was announced the Brookfield and Simon Property Group were set to offer to buy Kohl's . In August 2022, Intel signed a $ 30 billion partnership with Brookfield to fund its recent factory expansions. As part of the deal, Intel would have a controlling stake by funding 51% of the cost of building new chip-making facilities in Chandler, Arizona , with Brookfield owning the remaining 49% stake, allowing
6600-482: Was appointed CEO of Brascan. In 2005, after 37 years, Brascan Corp. was renamed to Brookfield Asset Management Inc. Between 2013 and 2018, the company and its subsidiaries invested approximately $ 10 billion in Brazilian energy, infrastructure and real estate developments, including acquisitions of oil pipelines from energy companies such as Petroleo Brasileiro SA . In 2015, Brookfield Asset Management became
6688-412: Was dedicated at Greater Chicago's Woodfield Mall in 1971. The Woodfield Mall store served as the largest in the chain until a replacement store opened at Plaza Las Américas in 1998, which is 350,000 square feet (33,000 m ) in size. On February 12, 1971, James Cash Penney died at the age of 95; the company's stores were closed the morning of his funeral on February 16. That year, the company adopted
6776-405: Was demolished in 2010. The City Council okayed tax incentives for the prospective redevelopment based on plans to build a new Walmart Supercenter and create a shopping strip to lease out to retailers. These plans were delayed by a lawsuit brought by neighboring Sutherlands and protests over another proposed Walmart store on the city's south side. Though scheduled for completion in 2010, the store
6864-566: Was founded in 1899 as the São Paulo Tramway, Light and Power Company by William Mackenzie and Frederick Stark Pearson . It operated in the construction and management of electricity and transport infrastructure in Brazil. In 1904, the Rio de Janeiro Tramway, Light and Power Company was founded by Mackenzie's group. In 1912, Brazilian Traction, Light and Power Company was incorporated in Toronto as
6952-616: Was later added to the plaza. By 1982, Parkdale Plaza had lost Lichensteins', Whites, H-E-B, and Woolco. Linens N' More took over the Old H-E-B location, and Decorator's Gallery took over the Whites Stores located in the back. Western Auto also left the Plaza during this time, though it was replaced by Autozone. During this time, free-standing Eckerd's and Wendy's locations were added to the Plaza Sutherland's Home Improvement took over
7040-466: Was located at Ala Moana Center , and closed in 2003, along with all remaining locations in the state, making Hawaii the only U.S. state to not currently have a JCPenney store. The Penney store at Plaza Las Américas mall in San Juan, Puerto Rico , which opened in 1968, featured three levels and 261,500 square feet (24,290 m ). It was the largest JCPenney until a 300,000-square-foot (28,000 m ) store
7128-596: Was located at Black Horse Pike Center in Audubon, New Jersey . The second full-line shopping center store was dedicated, at King of Prussia Plaza in King of Prussia, Pennsylvania in late 1962. Those stores expanded the lines of merchandise and services that an average J. C. Penney carried to include appliances, sporting goods, tools, garden\lawn merchandise, restaurants, beauty salons, portrait studios, auto parts, and auto centers. In 1962, J. C. Penney entered discount merchandising with
7216-698: Was named as Toronto-based BGIS' CEO, the company had 7,000 staff members and 100 clients in the United States , the United Kingdom , Asia , and Canada , which included contracts with the Canadian federal government. By 2022, according to a Carleton University School of Public Policy and Administration analysis of federal government contracts for real estate management, the Government of Canada spent over $ 1 billion on contracts with BGIS in 2021–2022, representing
7304-793: Was not completed until Fall 2011 and opened on October 26, 2011. 27°43′39″N 97°22′58″W / 27.7276°N 97.3828°W / 27.7276; -97.3828 JCPenney Penney OpCo LLC , doing business as JCPenney and often abbreviated JCP , is an American department store chain that operates 656 stores across 49 U.S. states and Puerto Rico. Departments inside JCPenney stores include Men's, Women's, Boys', Girls', Baby, Bedding, Home, Fine Jewelry, Shoes, Lingerie, JCPenney Salon , JCPenney Beauty , as well as leased departments such as Seattle's Best Coffee , US Vision optical centers, and Lifetouch portrait studios. Most JCPenney stores were initially located in downtown areas, but, as shopping malls grew in popularity during
7392-519: Was paired with news that the retailer had suffered a 4% decline in same-store sales during the 2018 holiday quarter. On March 26, JCPenney announced the hiring of Bill Wofford as chief financial officer. Wofford came to the company from The Vitamin Shoppe , where he had served as CFO since June 2018. On May 21, JCPenney announced that Shawn Gensch would be the chief customer officer , to take effect on June 3. Gensch comes from Sprouts Farmers Market where he
7480-813: Was sold to where the current Toyota North America headquarters is now located. In February, JCPenney announced that it would shutter two distribution centers and up to 140 under-performing stores as it wrestled with disappointing sales. The company also planned to offer buyouts to roughly 6,000 employees. On March 17, JCPenney released a list of 138 locations that would close by the end of June. By closing stores and distribution facilities, JCPenney would redirect resources to help expand its store-in-store Sephora boutiques, and add Nike and Adidas boutiques, similar to what Macy's has done with Finish Line , Lids and LensCrafters . In an effort to capitalize on self-deprecating humor and improve its reputation, JCPenney collaborated with Nicole Richie and other designers to open
7568-698: Was the first time shares fell below $ 1 ever in the 110-year history of the company, which started trading on the New York Stock Exchange in 1929. The stock fell 68% over the course of 2018, including a 30% drop in December 2018 alone. On February 6, 2019, JCPenney said it would stop selling major appliances on February 28, and that furniture would be limited to online and stores in Puerto Rico. On February 28, JCPenney announced its intent to close 27 stores in 2019, including 18 full-line department stores and nine home-and-furniture stores. The closure announcement
7656-413: Was their CCO. Also on May 21, JCPenney announced a net sales decline of 5.6% and a net loss of $ 154 million for its fiscal first quarter of 2019, which ended on May 5. On January 19, 2020, JCPenney announced plans to close six stores. On March 15, 2020, when businesses were ordered to temporarily close in many states, the chain closed all of its stores and furloughed its employees. JCPenney became
7744-428: Was using " spamdexing " techniques to manipulate Google search rankings. Google reduced the company's visibility, and JCPenney fired its search engine consultant. In June 2011, Ron Johnson , former head of Apple's retail division, became JCPenney's CEO. That same year, the company sold its 15 remaining catalog outlets to SB Capital Group, converting them into JC's 5 Star Outlets. In December 2011, JCPenney purchased
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