Page 13 - aruba-today-20200910

BUSINESS Thursday 10 sepTember 2020
A13

Mall owners close to buying JC Penney out of bankruptcy HEALTH

DOCTOR ON DUTY
NEW YORK (AP) — Mall respond to shoppers’ shift
owners Simon Property to online shopping. Oranjestad
Group and Brookfield The tentative agreement Hospital 7:00 pm / 10:00pm
Property Partners are close between two big landlords Tel. 527 4000
to a deal to buy depart- and Penney is the latest
ment store chain J.C. Pen- example of mall owners’ San Nicolas
ney out of bankruptcy and increasing willingness to Imsan 24 hours
keep the chain running. buy out their pandemic-hit Tel.524 8833
Penney’s lawyer Josh Suss- tenants. Mall owners are Women in Difficulties
berg announced the ten- facing big challenges as In this Nov. 24, 2017, file photo, a shopper heads into a J.C. PHARMACY ON DUTY
tative pact, which will save stores close or are unable Penney store in Seattle. Mall owners Simon Property Group and Oranjestad:
roughly 70,000 jobs and to pay rent. The exit or clos- Brookfield Property Partners are close to a deal to buy depart- Sta. Cruz Tel. 585 6890
ment store chain J.C. Penney out of bankruptcy and keep the
avoid liquidation, during a ing of retailers also triggers chain running, an attorney for Penney’s announced Wednes- San Nicolas:
San Lucas Tel. 584 5119
brief hearing in bankruptcy a clause that would allow day, Sept. 9, 2020. (AP Photo/Elaine Thompson, File) Women in Difficulties
court Wednesday. other tenants to break their Associated Press OTHER
Sussberg said that the Pen- Dental Clinic 587 9850
ney would have an enter- Sudoku leases or get a rent reduc- Blood Bank Aruba 587 0002
prise value of $1.75 billion, tion without facing penal- Urgent Care 586 0448
including $300 million in ties. Walk-In Doctor’s Clinic
cash from the two land- In fact, a retail venture +297 588 0539
Women in Difficulties
lords and $500 million in owned by licensing licens- EMERGENCY
new debt. ing company Authen-
“We are all committed to tic Brands Group and Si- Police 100
moving this quickly and mon agreed to purchase Oranjestad 527 3140
Noord
527 3200
saving J.C. Penney,” Suss- 200-year-old clothier Sta. Cruz 527 2900
berg said during the court Brooks Brothers for $325 mil- San Nicolas 584 5000
hearing. lion last month.q Police Tipline 11141
The 118-year-old depart- Ambulancia 911
ment store based in Plano, Fire Dept. 115
Texas, filed for Chapter 11 Red Cross 582 2219
bankruptcy protection in TAXI SERVICES
mid-May, one of the big- Taxi Tas 587 5900
gest retailers to do so since Prof. Taxi 588 0035
the pandemic temporar- Taxi D.T.S. 587 2300
ily shut down non-essential Taxi Serv. Aruba 583 3232
stores around the country. A1 Taxi Serv. 280 2828
As part of its bankruptcy re- Women in Difficulties
organization, Penney said TRAVEL INFO
it planned to permanently Aruba Airport 524 2424
close nearly a third of its American Airlines 582 2700
846 stores in the next two Solution on Page 14 Avianca 588 0059
years. Time Share Resales + Realty Jet Blue 588 2244
That would leave it with just Own or Rent a piece of the Rock Surinam 582 7896
over 600 locations. Women in Difficulties
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For more info call:(297) 630-1307
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department stores, which www.halleyadventures.com Women in Difficulties
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FOR SALE Tel. 524 8888
1) phoenix, week 34, 8/22 to Child Abuse Prevention
Tel. 582 4433
8/29, room 107 (16 weeks left
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Women in Difficulties
2) divi dutch Village, 7/4 to General Info
7/11, week 27, unit 13 ( 16
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3) divi dutch Village, week
35, unit 128 (18 weeks left on
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4) divi Golf, week 35, unit 4201,
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price $3,100.00 for each unit
plus $95 admin fee and buyer
pays all transfer fees ($400)
Contact:
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_____________________212385