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PENNSYLVANIA (WHTM) – Just weeks after the company behind Eddie Bauer’s retail operations in North America and Canada sought Chapter 11 bankruptcy protection, a significant number of its outlets are now up for grabs.
In February, WHTM from Nexstar revealed that Eddie Bauer, LLC, the entity managing the brand’s retail activities, had negotiated a Restructuring Support Agreement (“RSA”) with its secured creditors, marking a crucial step in its bankruptcy journey.
The operator cited a slump in sales alongside numerous industry challenges as reasons for the bankruptcy move. It also indicated plans to gradually close some stores, though at that point, specific locations were not disclosed.
This past Friday, RCS Real Estate Advisors, tasked with overseeing Eddie Bauer’s real estate affairs during the bankruptcy, disclosed that 174 store leases across the continent are currently being marketed.
For a comprehensive list of store leases now available, click here.
The Associated Press previously reported that Eddier Bauer has roughly 180 stores across the U.S. and Canada. At the company’s peak in 2001, the retailer boasted nearly 600 stores.
The Chapter 11 filing marked the third time in a little over two decades for the once-storied brand that began as a Seattle fishing shop.
Eddie Bauer’s namesake founder — an avid outdoorsman — started the company in Seattle in 1920 as Bauer’s Sports Shop, according to the brand’s website. In 1945, after making more than 50,000 jackets for the military, the company launched a mail-order catalog.
An American goose-down insulated jacket, introduced in 1936 and known as the “Skyliner,” became the company’s first patented jacket. The shop also outfitted the first American to climb Mount Everest — James W. Whittaker — with an Eddie Bauer parka in 1963.
After Bauer retired in 1968 and sold the business to his partner, the outdoor brand shifted more toward casual apparel and was bought by General Mills Inc. in 1971 and then by Spiegel Inc. in 1988. After Spiegel filed for bankruptcy in 2003 and most of its assets were sold, the remainder of the company was reorganized in 2005 as Eddie Bauer Holdings Inc.
In June 2009, Eddie Bauer filed for bankruptcy and was acquired by Golden State Capital the following month. In 2021, it was acquired by Authentic Brands and SPARC Group LLC.
A year ago, Catalyst Brands, which maintains the license to operate Eddie Bauer stores in the U.S. and Canada, was formed by the merger of SPARC and JCPenney, which Simon Property Group and fellow mall landlord Brookfield bought out of bankruptcy.
It should be noted that Eddie Bauer stores outside of the U.S. and Canada were not included in the latest Chapter 11 filing.
The Associated Press contributed to this report.