All Eddie Bauer stores are on the verge of closing after the clothing retailer failed to find a buyer as it navigates Chapter 11 bankruptcy, according to court documents filed in early March.
Eddie Bauer LLC, the operator of Eddie Bauer stores in the United States and Canada, and a licensee of the Eddie Bauer brand, could not find a satisfactory bidder for its assets by its March 3 deadline, according to a notice filed in the U.S. Bankruptcy Court of New Jersey. Since the retailer had no qualified bids for its remaining assets, the auction set for March 6 was canceled.
The Seattle-based clothing retailer filed for Chapter 11 bankruptcy on Feb. 9, citing declining sales, supply chain challenges and other issues for its current financial situation. The filing was made by Eddie Bauer LLC, a division of Catalyst Brands, which holds the license to operate roughly 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 times occurring in 2003 and 2009.
"This is not an easy decision," Marc Rosen, CEO of Catalyst Brands, said in a statement. "However, this restructuring is the best way to optimize value for the retail company's stakeholders and also ensure Catalyst Brands remains profitable and with strong liquidity and cash flow."
With Eddie Bauer not finding a buyer, it will continue store-closing sales at all of its brick-and-mortar locations "unless and until a more value-maximizing transaction becomes available," according to the recent notice.
When contacted by USA TODAY on Saturday, March 7, Eddie Bauer LLC said it is "not commenting publicly beyond what is in the company’s court filings."
Here's what to know about the fate of Eddie Bauer going forward.
What will happen to Eddie Bauer stores?
In addition to not finding a bidder by March 3, Eddie Bauer confirmed that it retained RCS Real Estate Advisors, a national retail real estate advisory firm, to market 174 store leases. Eddie Bauer's store portfolio includes 150 locations across 40 U.S. states and 24 locations across six Canadian provinces, according to RCS Real Estate Advisors' news release.
“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 proven trade areas,” Ivan Friedman, president and CEO of RCS Real Estate Advisors, said in a statement. “This portfolio represents a rare opportunity to secure legacy retail locations in established centers nationwide."
According to court documents filed on March 5, Eddie Bauer began 2026 with about 220 stores, but some of its leases lapsed early in the year. Now, with store leases being marketed and looming closures, Eddie Bauer brick-and-mortar locations won't be accepting gift cards after Thursday, March 12, and no refunds or returns will be accepted, the legal documents continue.
No. Eddie Bauer LLC filed for bankruptcy, but Authentic Brands Group, which owns the intellectual property associated with the retailer's brand, may license the brand to other operators.
The global brand development and licensing platform, which also has Reebok, Nautica, Brooks Brothers and Dockers in its portfolio, announced on Feb. 9 that it will focus on a "strategy centered on technical product innovation and digital expansion." The expansion will be "anchored by the return of First Ascent," Eddie Bauer's elite performance line, Authentic Brands Group said.
The Feb. 9 announcement came on the heels of Authentic Brands Group's Jan. 8 announcement that it would partner with longtime Eddie Bauer licensee Outdoor 5, LLC (Oved) to "assume responsibility for the brand’s e-commerce and wholesale operations, as well as design and product development in the United States and Canada."
“Our relationship with Oved has been built on trust, shared vision, and operational excellence,” Jarrod Weber, global president of Sports & Lifestyle at Authentic, said in a statement. “This next chapter aligns Eddie Bauer with a partner with expertise in the outdoor space, while allowing Catalyst to focus on its successful lifestyle portfolio. Together, we’re setting the brand up for long-term, sustainable growth.”
Contributing: Fernando Cervantes Jr. and Saman Shafiq, USA TODAY
