Liquidation of the store at Collin Creek Mall began in early September, and the store is expected to close in November. (Liesbeth Powers/Community Impact Newspaper)
The $15 million sale of the former JCPenney location at Collin Creek Mall to developer Centurion American was finalized during a Sept. 14 bankruptcy hearing.
The sale of the store, which had been pending approval of the court, and JCPenney's recent company sale agreement with Simon and Brookfield are not expected to affect the Plano store's liquidation and closing, according to a company spokesperson.
The concrete, but not official, sale of the company is expected to save close to 70,000 jobs, as previously reported by Community Impact Newspaper. A layoff of 144 people is expected to take place for employees at the Collin Creek Mall location Nov. 16, a Sept. 15 report from the Texas Workforce Commission shows. Liquidation of the store began in early September, and the store is expected to close in November.
Plans for the area of the $1 billion Collin Creek Mall redevelopment project that was planned for a new JCPenney store are still undecided, a spokesperson with Centurion American said Sept. 15. The department store will be torn down by the developer as planned.
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