Eddie Bauer bankruptcy: Retail operator files for Chapter 11 [USA TODAY]
ADIDAS AG S/ADR (ADDYY)
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Source: USA TODAY
The retail operator for about 180 Eddie Bauer stores across the United States and Canada announced on Monday, Feb. 9, that it had filed for Chapter 11 bankruptcy protection, citing declining sales, supply chain challenges and other issues for their financial problems. The filing was made by Catalyst Brands, which holds the licence to operate about 180 Eddie Bauer stores in the United States and Canada. In a press release on Monday, the company said that its retail locations would continue to serve customers as it conducts a court-supervised sale process. But if a buyer cannot be found, then it will be forced to close its U.S. and Canadian locations. "This is not an easy decision," Marc Rosen, CEO of Catalyst Brands, said. "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." Here is what you need to know about the bankruptcy. Online pre
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