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Retail operator of outdoor sportswear pioneer Eddie Bauer files for bankruptcy
Catalyst Brands filed for Chapter 11 to address over $1 billion in liabilities and declining sales at 180 stores in the U.S. and Canada, seeking a buyer or liquidation.
- Eddie Bauer LLC on Monday filed Chapter 11 in the United States Bankruptcy Court for the District of New Jersey after entering a Restructuring Support Agreement with its secured lenders.
- In recent years, the Retail Company has faced dwindling sales, supply-chain issues and ongoing tariff uncertainty, Marc Rosen, CEO of Catalyst Brands, said.
- Filing `first-day` motions, the Retail Company seeks to use cash collateral to fund operations while running liquidation sales and pursuing a going-concern sale process.
- The filing puts roughly 180 stores and nearly 200 at risk while listing more than 100,000 creditors, with $100 million to $500 million in assets and $1 billion to $10 billion in liabilities.
- RSA is designed to enable a quick Chapter 11 process, and potential buyers of North American store operations could preserve operations, but if no buyer emerges the company will orderly wind down U.S. and Canadian stores.
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JCPenney parent Catalyst puts Eddie Bauer stores in bankruptcy
Eddie Bauer LLC, a division of Plano-based Catalyst Brands and the operator of Eddie Bauer stores in the United States and Canada, has filed for Chapter 11 bankruptcy and plans to close its Seattle-based headquarters.
·United States
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Operator of Eddie Bauer stores files for bankruptcy
Explore the reasons behind Eddie Bauer's bankruptcy filing including declining sales, supply chain issues, and changing consumer preferences. Learn about the company's history, challenges, and future outlook.
·San Francisco, United States
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Coverage Details
Total News Sources146
Leaning Left22Leaning Right7Center73Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 22%
C 71%
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