 According to sources said to have direct information, J.C. Penney NYSE: JCP may be currently working out a deal to be bought out by its own landlords, Brookfield Property Partners NASDAQ: BPY and Simon Property Group NYSE: SPG. A third company, privately held Authentic Brands Group, LLC, is apparently in alliance with the retailers landlords to work out an acquisition deal. J.C. Penney recently declared Chapter 11 bankruptcy after store closures from the COVID-19 pandemic sent its already struggling operations into a tailspin. 