JCPenney filed for bankruptcy protection in 2020 and was acquired by Simon Property and Brookfield Asset Management for $800 million.
The parent company of Lucky, Eddie Bauer, Aeropostale, Forever 21 and Brooks Brothers, has merged with JCPenney to form a new company called Catalyst Brands, according to a release Wednesday afternoon. Sparc Group, the operator of fashion brands including Lucky, Eddie Bauer, Aeropostale, Forever 21 and Brooks Brothers, has merged with JCPenney to form a new company called Catalyst Brands, according to a release Wednesday afternoon.
Authentic Brands bought the Forever 21 brand name out of bankruptcy in February 2020 and licensed it to Sparc to operate through a fleet of about 500 stores, some of which were leased by Simon Property. The move served to benefit both, keeping mall occupancy up while giving Authentic — the owner of dozens of lifestyle and retail brands — another stream of income.
JCPenney filed for bankruptcy protection in 2020 and was acquired by Simon Property and Brookfield Asset Management Inc., another mall owner, for $800 million.Map: Palisades Fire evacuation amid high winds in Los Angeles CountyMap: Palisades Fire evacuation zone is expandedDear Abby: I cannot bear to call the baby by his given nameTom Hanks' son: Palisades fire burning family's neighborhood 'to the ground'Jimmy Carter federal holiday: What’s open, what’s closed Jan.
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