The JCPenney Outlet store in the Sawgrass Mills shopping center has been sold as part of an acquisition of 15 JC Penney locations to SB Capital Group, a Columbus, Ohio-based investment firm.
The stores will be rebranded as JC’s 5 Star Outlet Stores over the next 21 months, according to a news release. JC Penney will continue to supply the outlet stores with end-of-season merchandise and current staff and management . All 1,600 employees from the outlet stores nationwide were offered positions under the new brand JC’s 5 Star Outlet.
The JC Penney Outlet Store in Sawgrass Mills in Sunrise is the only Florida store included in the sale.
In May, JC Penney officials announced that the store at Sawgrass Mills would close this month and lay off 121 employees. In July, company officials said the store would remain open until officials had the time to evaluate the options for the outlet stores nationwide.
JC Penney had 19 outlet stores nationwide, said company spokesman Tim Lyons. Stores in Philadelphia, Pa., and Woodbridge, Va., will be converted back into JC Penney department stores. Two stores in Plainview, Texas and Springfield, Mass., have closed. The rest were sold.
Glen Gammons, the former head of JC Penney’s Outlet Store Division, will be the CEO of JC’s 5 Star Outlet. Gammons worked for JC Penney Company for 40 years.
954-356-4528 or Twitter@SunBizGriffin
