"The company, whose namesake opened its first store in Seattle in 1920, operates more than 200 stores in North America currently down from more than 600 international locations in the 1990s. Locations outside of North America would not be subject to the bankruptcy proceedings, according to Women's Wear Daily. The company's manufacturing, wholesale, or e-commerce operations would continue, WWD reports. Catalyst Brands, which owns the rights to operate Eddie Bauer stores, is the entity filing for bankruptcy."
"A number of parties are expected to bid for the rights to operate some or all of the Eddie Bauer stores, according to Business Insider. A winning bidder would then be able to license the rights from Authentic Brands Group and potentially keep stores open or bring the Eddie Bauer brand under the umbrella of another retailer. FILE - Shoppers pay for their purchases at a closing Eddie Bauer store in Bloomingdale, Illinois."
Eddie Bauer will close its stores in North America and file for bankruptcy. Catalyst Brands, which holds the rights to operate Eddie Bauer stores, is the entity filing. The company currently operates more than 200 North American stores, down from more than 600 international locations in the 1990s. Locations outside North America will not be part of the bankruptcy proceedings. Manufacturing, wholesale, and e-commerce operations will continue. Multiple parties are expected to bid for rights to operate some or all stores; a winning bidder could license rights from Authentic Brands Group and keep stores open or fold the brand into another retailer. Eddie Bauer opened its first store in Seattle in 1920, previously filed for bankruptcy in 2003 and 2009, and is credited with creating the quilted goose down jacket patented in 1940. Brick-and-mortar retail faces broader stress, with Saks Global having filed for bankruptcy protection after running out of cash.
Read at www.mercurynews.com
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