June 4, 2020 by
JCPenney Farragut, Parkside Drive, is among an estimated 600 stores nationwide to re-open amid the company’s bankruptcy filing — made worse by COVID-19 pandemic-related closings — having re-opened its main store and salon Wednesday, June 3. Michelle Austin, general manager with JCPenney Farragut who is a member of Shop Farragut/Farragut Business Alliance, said during an alliance electronic meeting Thursday, May 21, “I should be (opening) any minute, they’re opening over a hundred a week now.” Jim Nixon, a Farragut/Turkey Creek Land Partners negotiator and alliance member, said to his fellow members May 21 concerning TCLP’s lease with JCP, “It is a property that Turkey Creek Land Partners owns, and Penneys owns the building on top of our land. ... We’re continuing to monitor the bankruptcy court and monitor our e-mails and communications with Penneys. ... There’s a little over 800 Penneys stores, and they’ve already announced they’re going to close about 250.” Nixon also said it’s “an extremely substantial amount” of money JCP owes its creditors.
