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JCPenney is now under the same corporate umbrella as many of the brands that occupy spaces next to it in malls across the country.

Sparc Group — owner of Forever 21, Aéropostale, Brooks Brothers, Eddie Bauer, Nautica, Stafford and Liz Claiborne — officially merged Thursday with the department store chain to form a new entity, Catalyst Brands.

Simon Property Group and Brookfield Corp., two of the largest mall owners in the country, own stakes in both entities. Simon and Brookfield purchased JCPenney out of bankruptcy in 2020 for $1.8B.