Tag: rescue

JC Penney: Landlords plot rescue for department store

Image copyright Reuters Image caption The company filed for chapter 11 bankruptcy in May Two of America’s biggest shopping mall owners have agreed to take on JC Penney’s retail operations to save the department store from closing. Simon Property Group and Brookfield Property Partners said they would keep the majority of JC Penney’s stores open, potentially saving 70,000 jobs. JC… Read more →

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Coronavirus: UK government draws up plan to rescue key firms

Image copyright Getty Images The UK government has indicated it is prepared to rescue large British companies severely impacted by the coronavirus crisis. The bailout plan, named “Project Birch”, was mentioned by Transport Secretary Grant Shapps in Parliament last week when discussing the future of the aviation industry. The state could also take stakes in companies, reports the Financial Times.… Read more →