JCPenney is merging with a company that owns several other retailers that have also struggled as malls have declined in popularity across the U.S. The 123-year-old department store chain and SPARC Group have combined to form Catalyst Brands,

JCPenney and SPARC Group today announced that they have combined to form a new organization, Catalyst Brands, creating an unmatched portfolio of six iconic retail banners that celebrate the essence of American style.

JCPenney has merged with the owner of several retail brands to create a brand new company. On Jan. 8, JCPenney merged with SPARC Group, the owner of the following companies: Through the merger, JCPenney and SPARC Group created Catalyst Brands.