Amazon, mall owner scoping out JC Penney, Sears stores

J.C. Penney’s lenders extended a key deadline over the weekend as negotiations continue about the fate of the Plano, Texas-based retailer.

The lenders filed a notice to extend the deadline as the Wall Street Journal reported speculation Sunday that Amazon may be interested in buying some of Penney’s stores with major mall owner Simon Property Group.

The lenders’ deadline was moved to Wednesday from Monday, according to a filing in the U.S. Bankruptcy Court on

Saturday. Penney’s lenders are selecting a bidder for the Penney retail company, which is expected to exit Chapter 11 later this year.

A corresponding hearing has been rescheduled for Wednesday. A winning bidder for the 118-year-old department store chain could be approved by the end of August.

The idea that empty mall stores are a good fit for Amazon to use as fulfilment centres is not a new one. Amazon has bought two malls in Ohio for new fulfilment centres. And interest from Amazon has been a topic of speculation throughout

Penney’s bankruptcy. Penney filed for bankruptcy in May.

Delivery stations are part of Amazon’s effort to get closer to the customer. Those buildings are the final stop before an order heads out for delivery. Packages are sorted into routes to make sure promised delivery times are met, according to Amazon’s website.

Simon and Amazon are also looking at Sears locations, according to the Wall Street Journal article that quotes people familiar with the matter. Penney has 63 stores in Simon malls and Sears has 11 stores, according to its annual filing.