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Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports
Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports Forever 21 may close at least 200 more stores and could shut down every location during a possible bankruptcy process, according to reports. Forever 21 is considering the closures and its US operator F21 OpCo. may declare bankruptcy as soon as March, Bloomberg News reported. This would be the fast-fashion chain's second bankruptcy filing in about six years. Unless a buyer acquires the remaining locations, the retailer could be forced to liquidate, shutting down its roughly 350 remaining stores. At its height, Forever 21 operated more than 500 US locations and at least 800 worldwid…

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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
New Jersey's Last-Standing Sears Store Says It's Closing New Jersey's Last-Standing Sears Store Says It's Closing
New Jersey's Last-Standing Sears Store Says It's Closing And then there were none. New Jersey's last-standing Sears store, located in Jersey City, appears to be closing. The store at Newport Centre announced a store closing sale on Friday evening, Jan. 5 on Facebook. A voice answering service said the store was closed when Daily Voice called Friday at 7 p.m. Daily Voice has reached out to the Simon Property Group, who owns Newport Centre, and Sears corporate for comment. Sears Holdings filed for bankruptcy in 2018. The Jersey City store became the final Sears in New Jersey in 2020 after the store in Hackensack — a local landmark — shutter…

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by Cecilia Levine