Eddie Bauer operator files for bankruptcy. Will Illinois stores close? [USA TODAY]
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Source: USA TODAY
Eddie Bauer LLC, the retail operator for about 180 across the United States and Canada, announced Monday, Feb. 9, that it filed for Chapter 11 bankruptcy protection. Here's what Illinois shoppers should know. Why did Eddie Bauer file for bankruptcy protection? The retail operator cited declining sales, supply chain challenges and other issues for its financial problems. Will Eddie Bauer stores close? Eddie Bauer LLC, a division of Catalyst Brands, said its retail locations would continue to serve customers as it conducts a court-supervised sale process, according to a press release. 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." What about online store? Ed
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