This article was originally published by The Sun.
A nearly $950 million deal for Onyx Partners to acquire more than 100 J.C. Penney stores collapsed after months of delays, leaving roughly 120 locations at risk of closure as the Copper Property CTL Pass Through Trust confirmed the transaction did not close by the December 22 deadline. Analysts note long‑standing concerns around pricing, scale, and portfolio valuation, with industry experts pointing to multiple structural pressures facing legacy department‑store real estate. Boyden Managing Partner, Issy Perez said one likely reason for the breakdown is that Onyx ultimately found the “current financial terms were not worth pursuing,” underscoring investor caution in the shifting retail environment.
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