Plano-based retailer J.C. Penney could emerge from bankruptcy before the end of the month, just in time for the Christmas shopping season.
A federal bankruptcy judge has approved the sale of Penney's retail business to two major property groups that run many of the malls where Penney has stores.
Many financial experts doubted whether Penney could survive bankruptcy but now it looks like the company will emerge with about 700 stores in operation.