JCPenney filed for bankruptcy protection in 2020 and was acquired by Simon Property and Brookfield Asset Management for $800 million.

JCPenney is joining forces with a large conglomerate to form an even bigger powerhouse in the retail space. The department store chain is teaming up with the Sparc Group in an all-equity merger to form Catalyst Brands,

JCPenney is merging with a retail company with household names to form a new one based in Plano, Texas. The longtime local retailer and Sparc Group announced they have combined to form Catalyst Brands and will cover several brands: Aéropostale,