If you’ve been hanging onto a Eddie Bauer gift card or a piece of Eddie Bauer gear you want to return to the local store, you need to put down your electronics and get busy. Time is decidedly not on your side.
After failing to field a buyer after filing Chapter 11 bankruptcy the company has announced that after March 12, 2026 it will no longer accept refunds or returns or honor gift cards.
In case you’re not looking at a calendar, March 12 is today.
The company had planned a March 6 auction of the properties, but after not receiving any qualified bids, the auction was cancelled. The company has now retained RCS Real Estate Advisors to market 174 store leases as part of the bankruptcy process.
The Seattle-based clothing company filed for Chapter 11, citing declining sales, supply chain challenges, and “other issues.” Ownership of the brand is a bit confusing as the filing was by Eddie Bauer, LLC, a division of Catalyst Brands. Catalyst holds the license to operate the stores in the United States and Canada.
A statement from CEO Marc Rosen said the decision wasn’t “an easy one…but restructuring is the best way to optimize value for the retail company’s stakeholders and also ensure Catalyst Brands remains profitable with strong liquidity and cash flow.”
RCS issued a statement saying “As part of the Chapter 11 process, we are focused on maximizing value and identifying opportunities for landlords, retailers others seeking quality retail space in proven trade areas…This portfolio represents a rare opportunity to secure legacy retail locations in established trade centers nationwide.”
Despite the bankruptcy, the probable store closures and the liquidation, it may not be the end of Eddie Bauer. That’s because Catalyst, owner of the brand’s intellectual properties, may license the brand to other operators. Makes sense. Catalyst also has Reebok, Nautica, Brooks Brothers and Dockers in its portfolio.
Last month, Catalyst announced a focus on “technical product innovation and digital expansion.” That expansion will be headlined by the return of First Ascent. If that line sounds familiar, it was the elite performance line of…Eddie Bauer.
The brick and mortar retail industry isn’t getting any easier. While in Germany for IWA I noticed a concerning similarity between the storefronts in Nuremberg and those in virtually every American city: plenty of papered over storefronts with zu vermieten (for rent) signs.
Retail’s never been easy. It’s not getting any easier.
As always, we’ll keep you posted.
—Jim Shepherd