
JCPenney Confirms Massive Change In New York, Iconic Brands Merge
Several "iconic American brands" are joining forces, which could change the landscape of all malls in New York.
Last week, Hudson Valley Post reported on more retail stores closures.
Retail Stores Continue To Close
Nearly 100 locations combined are closing nationwide. Macy's confirmed the closure of 66 locations nationwide, including nine in New York.
Below are the locations closing in the Empire State.
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Kohl's Closing Nearly 30 Locations
Kohl's is also closing nearly 30 locations nationwide. CLICK HERE to find out those locations.
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Jo-Anne Fabrics Closing 6 Location, Including In Upstate New York
Jo-Anne Fabrics, which recently changed it's name to Joann, has confirmed the closing of six locations. One location is in Upstate New York. CLICK HERE for more.
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JCPenney Merges
JCPenney announced this week a merger with a company that owns several other once-bankrupt clothing stores like Forever 21.
JCPenney and SPARC Group combined to form a new organization, Catalyst Brands.
The new company creates "an unmatched portfolio of six iconic retail banners that celebrate the essence of American style," Catalyst Brands.
"Just as a catalyst in science brings together distinct elements to create something greater as a collective, our name ‘Catalyst’ reflects our drive to accelerate innovation and our total impact," Catalyst Brands states
Catalyst Brands will bring together JCPenney with Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand and Nautica, along with its exclusive private brands, including Stafford, Arizona and Liz Claiborne.
"We are Catalyst Brands. We now bring together the rich heritage of six unique brands, with modern energy and a bold vision for success," the company adds. "Together, we are bringing scale, expertise and wider-than-ever appeal to customers across America."
JCPenney will anchor Catalyst Brand combining with other brands that have faced finical issues. Officials believe this new company could hold significant control over the future of malls in the U.S.
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