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Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator
JCPenney is merging with a company that owns several other retailers that have also struggled as malls have declined in popularity across the U.S.
The 123-year-old department store chain and SPARC Group have combined to form Catalyst Brands, the new company said in a news release on Wednesday, Jan. 8. SPARC Group is the operator of stores including Aéropostale, Brooks Brothers, Eddie Bauer, Forever 21, Lucky Brand, and Nautica.
Former JCPenney CEO Marc Rosen will become the CEO of Catalyst Brands, which boasts more than $9 billion of revenue and about 60,000 employees at …
Lord & Taylor Closing 24 Department Stores Mostly In CT, NY, NJ, MA
Department Store chain Lord & Taylor has announced the closure of 24 more of its stores - many of them located in Connecticut, New York, Massachusetts, and New Jersey.
Lord & Taylor filed for Chapter 11 Bankruptcy in August. The retail giant, which was established in 1826, joins other chains that couldn’t survive the tragic COVID-19 economy. Other bigs that are closing shops across the country include J.C. Penny, Pier One, and Brooks Brothers.
So far this year, 6,000 department stores in the U.S. have been permanently closed, according to Coresight Research.
The local Lord & …
