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JCPenney Is Making a Comeback—Here’s What Shoppers Can Expect This Year
The glamorous days of the department store are long gone, but a handful of former mall retailers are doing what they can to hang on. Just yesterday, Sparc Group announced that it would acquire JCPenney and merge the store with its other brands, including Eddie Bauer and Brooks Brothers. The merger will create a new company called Catalyst Brands that, as CNN points out, will now "hold significant sway over the future of America’s malls."
RELATED: Nordstrom Is Closing More Stores Despite $6B Deal to Go Private.
JCPenney's troubles began in 2020.
Though department stores have struggled for many years, JCPenney's troubles became serious during the 2020 pandemic. In May of that year, the company filed for bankruptcy after 10 straight years of financial losses that accumulated to $4.5 billion, CNN reported at the time. Analysts attributed the struggles to executive leadership turnover, a failed plan to become more high-end, and consumers moving over to cheaper stores like Walmart and Target.
In Sept. 2020, mall owners Simon Property Group and Brookfield Property Group acquired JCPenney from its bankruptcy for $1.75 billion. However, by 2022, the 123-year-old retailer had closed nearly 200 of its 846 locations across 40 states.
JCPenney is now merging with other former mall mainstays.
The new deal is being facilitated by Sparc, also known as Simon Properties Authentic Retail Concepts, "a strategic partnership between Simon Property Group, Brookfield Corporation, Authentic Brands Group and Shein," reports The Wall Street Journal. JCPenney will merge with Sparc's other stores, Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica, as well as their "exclusive private brands," including Stafford, Arizona, and Liz Claiborne, according to a press release.
The merger will create a new umbrella company called Catalyst Brands, though JCPenney's current CEO, Marc Rosen, will remain at the helm.
"Our relationships with more than 60 million customers and the deep data we have create a compelling consumer value proposition across our brands. We can design a more personalized shopping experience, offer unified loyalty and credit card programs, and ultimately, cross-sell more effectively," Rosen said in the release. "With a clean balance sheet, we’re in great position to move forward."
Catalyst also owns Forever 21, though it is "exploring strategic options" for the brand. It recently sold the U.S. operations of the brand Reebok.
Best Life has reached out to JCPenney for more information on how the merger will directly affect existing stores, and we will update this story with their response.
RELATED: Macy’s Is Closing 65 More Stores—Here's When.
Lord & Taylor is making a comeback, too.
JCPenney isn't the only formerly bankrupt department store to announce a comeback. In December, Lord & Taylor was acquired by Regal Brands Global, who announced plans to relaunch the brand as a digital retailer this year.
As Best Life previously reported, "the new Lord & Taylor website will feature categories for designer and luxury brands, Lord & Taylor-branded merchandise, and a Gen-Z-centric shop with more affordable price points." It's still unclear if the department store will revive its physical footprint.
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Couple slam Ryanair after being banned from boarding flight because of their passport… despite being able to check in
A COUPLE’S holiday plans were left in ruins after Ryanair stopped them from boarding the plane because of their passport.
Abriella Monroe’s and her husband Sebastien had booked Ryanair flights to Tenerife.
Abriella, 32, and her husband Sebastien, 36, were planning to fly to the Spanish island to celebrate his birthday.
But were stopped from boarding the Ryanair plane due to a small tear along the spine of Sebastien’s passport.
Arriving at Manchester Airport two hours early for their flight, there didn’t appear to be a problem as they both checked-in without issue with their luggage being taken onto the plane.
Sebastien even managed to buy currency and spend money in duty free despite the fault with his passport.
But the pair were turned away at the gate after being told that Sebastien’s passport couldn’t be accepted.
Abriella told Manchester Evening News: “The man took a two second look at it and said ‘you can’t travel on that’. He said there was a slight rip in it and couldn’t accept it.
“We tried to reason with him and asked to speak to someone higher up, but it was no use.”
The pair were told they wouldn’t be able to board, and had to wait for their luggage and Abriella’s wheelchair to be taken off the plane, before having to leave the airport.
The couple explained they then went through the Border Force exit to the airport, who they said saw ‘no problem’ with Sebastien’s passport.
Abriella said they would “definitely be complaining to Ryanair”.
She added: “The passport is just slightly torn – we can fully see his details, passport number and his photograph.”
They said they would also be organising a new passport from Liverpool to avoid this happening again.
In response, a spokesperson for Ryanair said that the passport was ripped on the identification page at the seam and across the page which is why it wasn’t accepted..
A spokesperson told The Sun: “The UK Passport Office defines what constitutes as a damaged passport, not Ryanair.
“This passenger was correctly refused travel from Manchester to Tenerife (8 Jan) as his passport was damaged and therefore not valid for travel.”
Government guidelines on passports say that the HM Passport Office consider a passport to be damaged if details cannot be read; any of the pages are ripped, cut or missing; if there are holes, cuts or rips in the cover; the cover is coming away or there are stains on the pages.
What are the passport rules?
The Sun’s Head of Travel Lisa Minot has explained exactly what Brits need to know.
“Travellers used to be able to roll over up to nine unused months from their old passport onto a new one.
“But post-Brexit, anyone wanting to travel to the EU can no longer rely on those extra months.
“In order to travel to the EU, all passports must be no more than 10 years old on the day you arrive in your European destination.
“And you’ll need at least three months on your passport on the day you head back to the UK.
“Figures have shown up to 100,000 holidaymakers a year face being turned away at airports if their passport is more than 10 years old.
“The 10-year rule only applies to countries in the European Union but every country may have different rules on what is accepted – some countries like South Africa, for example, insist you have at least six months left on your passport when you travel and a full clear page.”
Countries like Bali are even stricter, with a number of people banned from flights for small tears or damage.
Another strict country is Vietnam – here is everything you need to know.
