A few years ago J.C. Penny filed for bankruptcy. Then Simon Property Group and Brookfield Asset Management purchased the company. Now the same investors want to buy Kohl's for a reported $8.6 Billion. If their offer is accepted by Kohl's stockholders both J.C. Penny and Kohl's will continue to operate as individual store brands. Although some operations will be combined to save on operating costs. There are 38 Kohl's and 11 J.C. Penny stores in New Jersey. There's a Kohl's in Newton. J.C. Penny has stores nearby in Rockaway and Wayne.
Source: NJ.COM
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