Summary
Eddie Bauer has filed for Chapter 11 bankruptcy protection for its stores in the U.S. and Canada due to declining sales and industry challenges. Most stores will stay open during this process, and the company's e-commerce and international operations are not affected.
Key Facts
- Eddie Bauer filed for Chapter 11 bankruptcy for its U.S. and Canadian stores.
- The company plans to close some stores while keeping others open.
- Eddie Bauer's e-commerce and wholesale businesses will continue as usual.
- Stores outside the U.S. and Canada are not part of the bankruptcy filing.
- Customers can still use gift cards and loyalty programs during the initial bankruptcy phase.
- Authentic Brands Group owns the Eddie Bauer brand and may license it to others later.
- This is the third time Eddie Bauer has filed for bankruptcy in over 20 years.
- Catalyst Brands, which operates Eddie Bauer stores, was formed through the merger of SPARC Group and JCPenney.
