Outdoor retailer Eddie Bauer LLC , which operates Eddie Bauer stores in the United States and Canada , has filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the District of New Jersey , backed by a Restructuring Support Agreement ( RSA ) with its secured lenders.
The move puts the North American store fleet on a dual track, liquidation sales alongside an expedited search for a buyer, in a bid to preserve some operations while managing an orderly exit if no deal emerges. Chapter 11 Filing
Targets Store Network Only The Chapter 11 process applies to the retail and outlet store business, not the Eddie Bauer brand’s intellectual property. Under the RSA , the company will run liquidation sales at U.S.
and Canadian locations while it simultaneously pursues an expeditious, value maximizing going concern sale of all or part of its store operations. For now, stores are staying open.
The press release confirms that retail and outlet locations in the United States and Canada will remain open and continue serving customers as the Retail Company begins its process of winding down certain stores.
If a buyer emerges, the company notes it may depart from a full wind down of operations to facilitate a going concern transaction, but if no agreement is reached, the plan is an orderly wind down of the Retail Company’s store operations…
