Boston-based Onyx Partners, Ltd. has entered into a purchase and sale agreement with Copper Property CTL Pass Through Trust to buy 119 JCPenney properties, according to a press release. The $947 million all-cash deal is expected to close before September 8.

JCPenney has sold 119 stores to an affiliate of Onyx Partners. It's unclear thus far what this will mean for those sites.

Five years after filing for bankruptcy, JCPenney is making another major move. The retailer is selling 119 stores across the country, though no closures have been announced.The sale highlights the ongoing challenges for traditional department stores as malls lose foot traffic and online shopping continues to dominate.