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J.C. Penney Allowed to Delay Rent Payments on Hundreds of Leases

Department Store Chain's Lease Payments on Stores, Distribution Centers, Offices Postponed Until July
Each month, J.C. Penney pays more than $17 million on property leases. (iStock)
Each month, J.C. Penney pays more than $17 million on property leases. (iStock)

A judge overseeing department store retailer J.C. Penney's Chapter 11 bankruptcy protection filing is allowing the chain to delay millions of dollars in lease payments on hundreds of stores and ground leases, distribution facilities and offices, including its corporate headquarters in Texas.

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