By Vidhi Choudhary Will two struggling department store chains potentially add up to one successful business? In its heady days, the 120-year-old department store chain J.C. Penney used to be the go-to place for consumers looking for low-cost drapes, mattresses, and tableware, as well as work and leisure clothing. The Plano, Texas, retailer served the price conscious consumer part of America’s middle class families. Over the years, J.C. Penney expanded and ran 850 stores across the United States and Puerto Rico. The company however began to struggle with the transition to online shopping in th…