AMERICAS DISTRESS DAILY: JCPenney Merges With Brand Owner Sparc

Sparc Group, the operator of fashion brands including Lucky, Eddie Bauer, Aeropostale, Forever 21 and Brooks Brothers, has merged with JCPenney to form a new company called Catalyst Brands.

In Other News:

• Clear Channel Outdoor agreed to sell its Europe-North segment to a Bauer Media subsidiary for $625 million in cash.
• Intrum said its petition to initiate a Swedish company reorganization has been approved by the Stockholm District Court.

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