By
Reuters
Printed
February 19, 2025
The potential chapter can be in search of a purchaser for the retailer’s remaining shops. Nevertheless, the report added that Ceaselessly 21 would seemingly liquidate its total chain of about 350 shops if no certified purchaser emerges.
The Ceaselessly 21 trademark and mental property are owned by attire chain operator Genuine Manufacturers, which licenses them to Catalyst Manufacturers, at the moment present process a Chapter 11 course of, Bloomberg mentioned.
Catalyst Manufacturers is an organization that was shaped this January from the merger of JCPenney and SPARC Group. In line with Catalyst Manufacturers’ web site, it operates SPARC Group’s manufacturers Aéropostale, Eddie Bauer, Fortunate Model and Nautica.
The shareholders of Catalyst Manufacturers embrace Simon Property Group, Brookfield Company, Genuine Manufacturers Group, and Shein.
Genuine Manufacturers’ possession of the Ceaselessly 21 model would stay intact by way of any chapter course of, Bloomberg mentioned.
One of many individuals advised Bloomberg that it plans to license Ceaselessly 21 to different present retailers and distributors whatever the final result of Catalyst Manufacturers’ potential sale or liquidation in chapter.
Ceaselessly 21, Catalyst Manufacturers and Genuine Manufacturers didn’t instantly reply to Reuters’ requests for remark.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Modifying by Alan Barona)
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