Onyx Partners, a Massachusetts-based private equity firm, has renewed its effort to acquire the real estate beneath 117 JCPenney stores for $934 million, according to Retail Dive. This revived bid comes nearly a year after a similar $947 million deal for 119 properties failed to close in 2025, with the reason for the collapse remaining undisclosed. The proposed transaction traces back to JCPenney's 2020 bankruptcy, when Copper Property CTL Pass Through Trust took ownership of roughly 160 stores and six distribution centers on behalf of creditors. Copper Property has since been working to sell these assets, and Onyx's new proposal reportedly mirrors many terms of the failed agreement.