Equity group picks up JCP outlets

Columbus, Ohio - Schottenstein affiliate SB Capital Group has acquired 15 JCPenney Outlet Stores from J. C. Penney Company Inc. and will rebrand them as JC's 5 Star Outlet, which will be run by Penney veteran Glen Gammons.

Under the terms of the sale, Penney will continue to supply the outlets with overstocks and end-of-season merchandise, and SB Capital Group offered positions with the new business to all 1,600 eligible employees of the JCPenney Outlet Stores.

Gammons, who has spent 40 years with JCP, ran the retailer's outlet division for the past 11 years. He becomes ceo of JC's 5 Star Outlet.

"Today's announcement marks the culmination of our efforts to acquire a business we greatly admire. We've watched this operation for a number of years, and in doing so, could not be anything short of impressed with the business and the value offered to consumers," said Scott Bernstein, coo of SB Capital Group.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!