Bellevue, Wash. — The operator of Eddie Bauer stores has entered into a voluntary Restructuring Support Agreement (RSA) and has commenced chapter 11 proceedings in the U.S. Bankruptcy Court of the District of New Jersey. The bankruptcy filing for the company involves the entity managing physical stores — Catalyst Brands — not the brand itself, which is owned by Authentic Brands Group and SPARC Group.
Eddie Bauer retail and outlet stores in the United States and Canada will remain open and continue serving customers as the company begins its process of closing stores. The company’s e-commerce and wholesale operations are not impacted by the filing because they are operated by a separate licensed operator, Outdoor 5.
Lynnwood Times reports that approximately 200 brick-and-mortar Eddie Bauer locations are anticipated to close.
Kirkland & Ellis LLP, Cole Schotz P.C. and Osler, Hoskin & Harcourt LLP are serving as legal counsel to the company. BRG is serving as financial advisor, SOLIC Capital Advisors is serving as investment banker and Reevemark is serving as communications advisor.