Kaiser, whose illustrious career spanned decades, died suddenly on Friday.
JC Penney Exits Bankruptcy
The retailer sold its retail and operating assets to Simon Property Group and Brookfield Asset Management in a deal valued at $800 million.
Plano, Texas—JC Penney has exited bankruptcy proceedings just in time for the holidays.
The retailer completed the sale of its retail and operating assets in an $800 million deal with mall owners Simon Property Group and Brookfield Asset Management.
The deal is expected to keep 650 of its 850 locations open and save 70,000 of its 85,000 jobs.
“Today is an exciting day for our company, as we have accomplished our goal of putting JCPenney on a secure path for the future as a private company so that we can continue to serve our loyal customers,” said JC Penney CEO Jill Soltau in a statement.
Simon Property Group CEO David Simon added: “We have always been firm believers in JCPenney, and are very pleased to help preserve this iconic institution and save tens of thousands of jobs.”
The court also approved the company’s reorganization plan to split itself into two parts: a retailer and a property holding company, comprised of 160 of its real estate assets and all of its owned distribution centers.
With the sale completed, JC Penney now also has access to $1.5 billion in new financing.
In National Jeweler's 2020 State of the Majors report, J.C. Penney stood at No. 8 on the list of $100 Million Supersellers, with an estimated $641 million in annual jewelry and watch sales.
He will step into the retailer’s newly created role of chief development officer.
When it comes to knowing the identity and quality of your pearls, count on GIA as your independent pearl experts.
GemIntro is meant to give a broad introduction to gems and gemology.
Three industry experts discuss “recycled” gold vs. mined, their challenges and benefits, and how jewelers can navigate the area.
Cartier, Van Cleef & Arpels, and Buccellati put on stellar performances.
Advanced technology levels the playing field, helping jewelers give customers what they want.
The New York jeweler made this incredible, colorful Art Deco bracelet featuring tropical birds in 1927.
From a slowdown in sales growth to rising costs, Fruchtman Marketing outlines its expectations for the second half of the year.
The retailer also said demand for Rolex, Patek Philippe, and Audemars Piguet watches continues to exceed its supply.
The Connecticut jeweler reflected on five decades in the industry and what the future holds for the family business.
The chapter has organized a day trip to the Sterling Hill Mine and Museum in Ogdensburg on Saturday, May 21.
The stones come from a deposit close to Mahenge and have been on the market for several months.
The jewelry designer is partnering with popcorn brand Angie’s Boomchickapop on a whimsical diamond cut.
In the latest article from The Smart Lab, Emmanuel Raheb outlines the website changes jewelers can expect with this new software.
The new app allows salespeople to quickly and easily access a lot of inventory.
Following its Paris debut, “Cartier and Islamic Art: In Search of Modernity” has landed at the Dallas Museum of Art.
The Kansas retailer is aiming for a fall 2023 opening.
It will be located in Vietnam’s Binh Duong Province, and construction is slated to start early next year.
The company is feeling the impact of the uncertain geopolitical and macroeconomic environment, said CEO Beth Gerstein.
It became the most valuable vintage Audemars Piguet watch ever sold at auction, according to Sotheby’s.