After Bankruptcy Crisis, Shaquille O’Neal Co-Owned Brand Attempts To Restore Glory With New Launch

Bankruptcy filings, store closures, billions in debt – JCPenney’s story reads like a retail horror flick. But then, enter Shaquille O’Neal, the man who turns everything he touches into gold. Is he the savior JCPenney desperately needs, or is this just another chapter in a long, drawn-out decline? The stakes are high, and the retail world is watching to see if Shaq can pull off a miracle.

Even with Shaq’s influence, the future remains stark for JCPenny. The retail giant is still recovering from its bankruptcy crisis, and things aren’t looking easy. A company spokesperson confirmed that JCPenney will close eight more locations this year, adding to the more than 200 stores that have shut down since it filed for bankruptcy five years ago.

Still, Shaq isn’t backing down. As the second-largest shareholder in Authentic Brands Group—which owns a 16.6% minority stake in JCPenney—he’s deeply invested in its revival. He already has partnerships with several brands under Authentic’s umbrella, including Reebok and JCPenney itself. Clearly, he’s not just an investor; he’s an integral part of the company’s future.

This time, though, Shaq isn’t just working behind the scenes—he’s stepping in front of the camera. He’s now the face of JCPenney’s new menswear line, Shaquille O’Neal XLG. Announcing the launch, the brand wrote on Instagram, “In with spring styles that actually fit ✅ Out with settling for ‘good enough’ ❌ Shaq XLG gets it.” And with the basketball icon showing off the latest looks, JCPenney is hoping to draw in a fresh wave of customers.

Interestingly, the retailer has long been a key supporter of Shaq’s philanthropy. Through initiatives like ‘Shaq-to-School’ and ‘Shaq-a-Claus,’ JCPenney has frequently donated gift cards to the Boys & Girls Club, helping kids in need. Now, as both Shaq and JCPenney fight for a comeback, their partnership is stronger than ever.

Can Shaquille O’Neal bring JCPenney back from the brink?

Back in 2016, JCPenney was already in trouble. The company, co-owned by Shaquille O’Neal, was drowning in $4.8 billion of long-term debt. To lighten the load, it sold its massive Plano, Texas, headquarters for $353 million in 2017, leasing back 65% of the space. But just when it seemed like the worst might be over, the COVID-19 pandemic hit—and things went from bad to worse.

By May 15, 2020, JCPenney had no choice but to file for Chapter 11 bankruptcy protection. With 846 stores and 85,000 employees, the retailer scrambled to stay afloat, announcing hundreds of store closures in an effort to cut costs and avoid liquidation. While JCPenney had been struggling for years, it made it clear that the pandemic was the final blow that pushed it over the edge.

JCPenney’s path to recovery is far from certain, given the highly competitive retail apparel market and the continued dominance of online shopping. The current economic climate also presents additional challenges. But, Shaq wasn’t ready to give up. Just last September, he took his deep ties with JCPenney, his connection with Amazon Prime, and his love for football and turned them into something special—a season-long campaign for Thursday Night Football. Calling in celebrity friends and tapping into his production studio, he set out to create a major brand moment.

O’Neal even produced a new JCPenney commercial under his Jersey Legends banner, using it as the perfect opportunity to push his menswear line, Shaquille O’Neal XLG. It’s a bold move—and one that could give the struggling retail giant a much-needed boost.