The 123-year-old department store chain anchors the new company — a joint venture with Sparc Group, which also owns Lucky Brand, Eddie Bauer, Nautica and Aeropostale. Catalyst represents a new chapter for JCPenney, the historic chain that filed for bankruptcy in the height of the pandemic in 2020. It was later bought by mall-owner Simon Property Group and real estate developer Brookfield in a $1.75 billion deal. Malls have been facing significant problems from store closings and reduced foot traffic since before the pandemic. JCPenney CEO Marc Rosen is leading the new company, which will be headquartered at the department store’s offices in Plano, Texas.

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Persons: Brooks, Lucky Brand, Eddie Bauer, Nautica, Simon, Neil Saunders, Brookfield, Marc Rosen, ” Rosen, ”, ” Saunders, ” Catalyst Organizations: New, New York CNN, JCPenney, Brooks Brothers, Sparc Group, Catalyst Brands, Catalyst, Simon Property Group, GlobalData, CNN, ”, Reebok Locations: New York, Brookfield, Plano , Texas