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Merger

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JCPenney Closing MD Mall's Store As Part Of Nationwide Cuts JCPenney Closing MD Mall's Store As Part Of Nationwide Cuts
JCPenney Closing MD Mall's Store As Part Of Nationwide Cuts JCPenney is closing a Maryland department store as one of its latest changes amid restructuring and financial uncertainty. JCPenney will shut down at the Annapolis Mall in Maryland, a company spokesperson confirmed to the Daily Voice. The store is one of eight locations set to close nationwide by the middle of 2025. The company said it doesn't have plans to "significantly reduce" its store count. "Individual closures in specific markets happen from time to time due to expiring lease agreements, market changes or other factors," the spokesperson said. "We are grateful to our …

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by Chris Spiker
Business
Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator
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 US. 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 …

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by Chris Spiker
Business
Nissan, Honda Eye Potential Merger Nissan, Honda Eye Potential Merger
Nissan, Honda Eye Potential Merger Two of the world's biggest automakers may soon become one. Nissan Motor Co., Ltd. and Honda Motor Co., Ltd. have signed a memorandum of understanding (MOU) to discuss a potential merger aimed at revolutionizing the future of mobility and electrification.  Announced on Monday, Dec. 23, the goal is to establish a joint holding company that could significantly impact the automotive landscape, and potentially make the combined corporation the world's third-largest auto manufacturer. The merger aims to accelerate initiatives for carbon neutrality and zero traffic fatalities by pooling reso…

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by Joe Lombardi