Five years after emerging from bankruptcy, JCPenney has sealed a $947 million all-cash deal with the private equity firm Onyx Partners Ltd., agreeing to transfer the ownership of 119 store locations.

Onyx Partners will pay $947 million for 119 JCPenney stores, including 21 in Texas, 19 in California and two in Puerto Rico.

The stores which have been sold are located in Chesterfield, Grandville, Novi, Sterling Heights, Traverse City and Troy.