JCPenney merged with Sparc Group to form Catalyst Brands, led by Marc Rosen and headquartered in Plano, Texas. Catalyst launches with over 1,800 stores, $1 billion in liquidity, and a portfolio including Aeropostale, Brooks Brothers, and Nautica. The merger aims to streamline operations, leverage real estate, and enhance supply chains. Sparc, a partnership of Simon Property Group, Brookfield Corporation, Authentic Brands Group, and Shein, previously acquired JCPenney for $800 million. While the pandemic worsened JCPenney’s challenges, its decline began earlier with debt and competition. Catalyst is also exploring options for Century 21 and has sold Reebok’s national operations.
JCPenney
