Sparc Group, the parent company of Forever 21 and Aéropostale, announced it merged with JCPenney to create a new company called Catalyst Brands.

JCPenney announced Thursday the company merged with SPARC Group, to form a larger retail organization called Catalyst Brands.

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

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.

Retailers are banding together for a massive operation based out of Texas that will see JCPenney merge with the parent company of Forever 21. Known as Catalyst Brands, the new company includes Aéropostale,

JCPenney is merging with a company that owns a number of other once-bankrupt clothing stores, including Forever 21 and Brooks Brothers, to form a new company that will hold significant sway over the future of America’s malls.

It remains to be seen if merchandise bearing the names of brands like Aeropostale, Eddie Bauer and Nautica, all now aligned with JCPenney, will make their way into JCPenney stores.

Six retail stores – one of which still has a presence in the Chautauqua Mall – are merging to form a new organization. JCPenney and the SPARC Group are forming Catalyst Brands. Other SPARC Group brands include Aeropostale,

A woman has been arrested following an altercation over a parking space in Mount Vernon that left two people injured, authorities announced. The incident happened on Monday, Jan. 13, around 10:30 p.m.

The new Catalyst Brands has over $9 billion in revenue, 1,800 store locations, 60,000 employees and $1 billion of liquidity. The combined organization is a joint venture formed in an all-equity transaction between JCPenney and Sparc, with shareholders Simon Property Group, Brookfield Corporation, Authentic Brands Group and Shein.

JCPenney is doubling down on its reinvention efforts. Fresh off naming Mischief @ No Fixed Address as its new creative agency – an indication of its bold ambitions for modernizing the brand – the retailer has announced the formation of Catalyst Brands, a joint venture with SPARC Group.

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