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All Eddie Bauer stores are at risk of closing after the clothing retailer, which is in Chapter 11 bankruptcy, is unable to find a buyer, according to court documents filed in early March.
Eddie Bauer LLC, which operates Eddie Bauer stores in the United States and Canada and is a licensee of the Eddie Bauer brand, was unable to find a satisfactory bidder for its assets by a March 3 deadline, according to a notice filed in U.S. Bankruptcy Court in New Jersey. The auction scheduled for March 6 was canceled because the retailer had no qualified bidders for the remaining assets.
The Seattle-based clothing retailer filed for Chapter 11 bankruptcy protection on February 9, citing declining sales, supply chain challenges and other current financial issues. The filing was filed by Eddie Bauer LLC, a division of Catalyst Brands, which holds a license to operate approximately 180 Eddie Bauer stores in the United States and Canada.
The Feb. 9 filing marks the third time the retailer has filed for bankruptcy, with the other two occurring in 2003 and 2009.
“This was not an easy decision,” Catalyst Brands CEO Mark Rosen said in a statement. “However, this restructuring is the best way to optimize value for the retail company’s stakeholders and ensure Catalyst Brands remains profitable and maintains strong liquidity and cash flow.”
Due to a lack of buyers, Eddie Bauer will continue closing sales at all of its brick-and-mortar stores “until a more value-maximizing transaction is available,” according to a recent notice.
Speaking to USA TODAY on Saturday, March 7, Eddie Bauer LLC said it “does not comment publicly beyond what is contained in the court filing.”
Here’s what you need to know about Eddie Bauer’s future fate.
What will happen to Eddie Bauer stores?
In addition to not finding a bidder by March 3, Eddie Bauer confirmed that it had hired RCS Real Estate Advisors, a national retail real estate advisory firm, to sell the leases for the 174 stores. Eddie Bauer’s store portfolio includes 150 stores in 40 U.S. states and 24 stores in six Canadian provinces, according to a news release from RCS Real Estate Advisors.
“As part of the Chapter 11 process, we are focused on maximizing value and identifying opportunities for landlords, retailers and other uses seeking quality retail space in established trade areas,” Ivan Friedman, president and CEO of RCS Real Estate Advisors, said in a statement. “This portfolio represents a valuable opportunity to secure traditional retail locations in established centers across the country.”
Eddie Bauer started in 2026 with about 220 stores, but some leases expired earlier this year, according to court documents filed March 5. Now, with store leases up for sale and closing looming, Eddie Bauer’s brick-and-mortar stores will no longer accept gift cards and will not accept refunds or returns after Thursday, March 12, legal documents continue.
Is Eddie Bauer finished?
No, Eddie Bauer LLC has filed for bankruptcy, but Authentic Brands Group, which owns the intellectual property associated with the retailer’s brand, may license the brand to other businesses.
The global brand development and licensing platform, whose portfolio also includes Reebok, Nautica, Brooks Brothers and Dockers, announced on February 9 that it will focus on a “strategy centered on technical product innovation and digital expansion.” Authentic Brands Group said the expansion will be “supported by the return of First Ascent,” Eddie Bauer’s elite performance line.
The Feb. 9 announcement followed a Jan. 8 announcement that Authentic Brands Group has partnered with longtime Eddie Bauer licensee Outdoor5, LLC (Oved) to “be responsible for the brand’s e-commerce and wholesale operations, design and product development in the U.S. and Canada.”
“Our relationship with Oved is built on trust, a shared vision and operational excellence,” Jarrod Weber, Authentic’s global president of sports and lifestyle, said in a statement. “This next chapter will align Eddie Bauer with a partner with outdoor expertise while allowing Catalyst to focus on a successful lifestyle portfolio. Together, we will position the brand for long-term, sustainable growth.”
Contributors: Fernando Cervantes Jr. and Saman Shafiq, USA TODAY
