JCPenney Bankruptcy Heads For Sale At Last

A new twist in the bankruptcy proceedings before Judge Jones took place on Wednesday just as he scheduled certain actions of the Simon Property Group and Brookfield Property Partners bid that could bring JCPenney out bankruptcy in December 2020.

A December resolution of all of this would be 7 months after JCPenney went into bankruptcy on May 15, 2020. The company has a $900 Million ‘debtor in possession’ financing facility and a first-lien debt of about $1.6 Billion. This DIP debt is held 94% by H/2 Capital Partners; they also hold 75% of the first lien debt.

However, Aurelius Capital, who holds

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Hilco Real Estate Announces The Court-Ordered Bankruptcy Sale Of 17 Multifamily Properties On Chicago’s South Side

NORTHBROOK, Ill., Oct. 20, 2020 /PRNewswire/ — Hilco Real Estate, LLC announces November 3, 2020 as the bid deadline for a court-supervised bankruptcy auction of 17 multifamily properties located on Chicago’s South Side, formally known as Better Housing Foundation Portfolio C. The portfolio features 17 multifamily properties, totaling 181 units, to be sold as a whole and is subject to a minimum stalking horse overbid of $4,785,000, which equates to $26,436 per unit.

The buildings within this sale are in different areas throughout Chicago’s South Side including Park Boulevard, Jackson Park, Beverly and other various neighborhoods in between. There are three to 24 units available in each building, and all units range in occupancy levels. 

The on-site inspection dates for properties one through ten, starting at 3652 S. Indiana Avenue and ending at 6800 S. Clyde Avenue, will be held on Wednesday, October 14 and properties 11

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Stage Stores’ brands, property sold in $7 million bankruptcy deal

Bradenton, Fla.-based Bealls Inc. has acquired Stage Stores Inc.’s intellectual property and a large Texas distribution facility in a $7 million bankruptcy sale.

The intellectual property acquired by Bealls Inc. from the bankruptcy court includes the trademarks and trade names for Stage Stores, Goody’s, Gordmans, Palais Royal and Peebles, as well as the national rights for the Bealls name. Bealls also acquired all of Stage’s private label brands and customer lists.

Bealls Inc. is a separate company from the Bealls brand that was part of the Stage Stores stable. It operates Bealls Stores and Beall’s Outlet Stores in Florida, Georgia and Arizona. The stores operating under the Beall’s name in other states were owned by Houston-based Specialty Retailers Inc., Stage Stores’ former parent.

On HoustonChronicle.com: With Stage Stores closure, a staple leaves rural communities

The deal included a 435,196-square-foot distribution center in Jacksonville, which sits on a 42.5-acre parcel that

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A&G Completes Bankruptcy Sale of Stage Stores’ Texas Distribution Center and Other Real Estate Assets

MELVILLE, N.Y., Oct. 21, 2020 /PRNewswire/ — A&G Real Estate Partners today announced that it has completed bankruptcy court-approved sales of Stage Stores, Inc.’s Jacksonville, Texas distribution center and two other properties to two buyers. The Melville, N.Y.-based A&G has been serving as real estate advisor for the Houston-headquartered retailer, which operated 738 conventional department stores and off-price stores under multiple brands at the time it filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in May 2020. The company has since liquidated all stores.

In the largest transaction, Bradenton, Fla.-based Bealls Inc. acquired the fee interest for Stage’s 435,196-square-foot distribution center in Jacksonville, which sits on a 42.51-acre parcel

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Hilco Real Estate Announces The Court-Ordered Bankruptcy Sale Of 17 Multifamily Properties On Chicago’s South Side | Nachricht

NORTHBROOK, Ill., Oct. 20,2020 /PRNewswire/ — Hilco Real Estate, LLC announces November 3, 2020 as the bid deadline for a court-supervised bankruptcy auction of 17 multifamily properties located on Chicago’s South Side, formally known as Better Housing Foundation Portfolio C. The portfolio features 17 multifamily properties, totaling 181 units, to be sold as a whole and is subject to a minimum stalking horse overbid of $4,785,000, which equates to $26,436 per unit.

Hilco Real Estate (PRNewsfoto/Hilco Real Estate)

The buildings within this sale are in different areas throughout Chicago’s South Side including Park Boulevard, Jackson Park, Beverly and other various neighborhoods in between. There are three to 24 units available in each building, and all units range in occupancy levels. 

The on-site inspection dates for properties one through ten, starting at 3652 S. Indiana Avenue and ending at 6800 S. Clyde Avenue, will be held on Wednesday, October 14 and properties 11 through

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J.C. Penney asked to have the weekend to complete details of it bankruptcy exit and sale

J.C. Penney told the bankruptcy court Friday that it will miss its deadline to file documents that outline its reorganization and sale and it expects to make the disclosures on Monday.



a group of people standing in front of a store: Shoppers enter the former Collin Creek Mall J.C. Penney store in Plano. It permanently closed last weekend as part of Plano-based Penney's bankruptcy reorganization to close of 144 of its 846 stores. Two other stores, in Dallas and Lewisville, also closed last week. Penney still operates 15 stores in North Texas. The Collin Creek property is being redeveloped into a mixed-use project.


© Tom Fox/Staff Photographer/The Dallas Morning News/TNS
Shoppers enter the former Collin Creek Mall J.C. Penney store in Plano. It permanently closed last weekend as part of Plano-based Penney’s bankruptcy reorganization to close of 144 of its 846 stores. Two other stores, in Dallas and Lewisville, also closed last week. Penney still operates 15 stores in North Texas. The Collin Creek property is being redeveloped into a mixed-use project.

A hearing is scheduled for Tuesday and negotiations that have been underway for months are expected to be completed by then, according to the motion filed to extend the deadline to Monday.

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What’s still being hammered mounts to millions of dollars of payout to various first lien secured

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Mombo Restaurant in Portsmouth files for bankruptcy after owner’s death – News – seacoastonline.com

PORTSMOUTH — Mombo Restaurant has filed for voluntary bankruptcy following the sudden death of owner Thomas Perron, and a federal court judge has been asked to grant permission to move ahead with a sale and bidding process starting at $150,000 for the desirable Strawbery Banke location.

The 66 Marcy St. restaurant has been closed since Perron’s death in June. This summer marked the business’s 10-year anniversary.

Mombo, located at Strawbery Banke Museum and overlooking Prescott Park, had been dubbed a “sophisticated haunt for refined New American fare in airy quarters with wood beams and a patio lounge.” The restaurant won several “Taste of the Seacoast” awards, and in 2012, Perron prepared a special luncheon for the Obamas and Bidens.

Mombo LLC, owned by Perron’s revocable trust, filed for voluntary bankruptcy in federal court Oct. 6. Trustee attorney David Mulhern is represented in court proceedings by attorney Steven Notinger, who on

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Finding an Apartment to Rent in Austin With a Broken Lease, Bad Credit Or Bankruptcy

Austin, the state capital of Texas, is a modest yet high-tech town which combines a serene life with some of the biggest names in technology and academia. The University of Texas in Austin has a looming presence and continues to attract thousands of young ambitious people from not only all over the US but the world. Austin also has some of the best apartment rental units one can ever find in Texas. But renting an apartment in Austin involves getting acquainted with the rental process. This is because most prospective tenants can expect a background checks which involves rental history and court records. Rental background checks are designed to unearth prior broken leases while court analysis reveals if the applicant has had a bankruptcy. But where can one rent an apartment in Austin if they have a broken lease or have filed Chapter 11 or 13?

Prior broken agreements or Read More