Eddie Bauer will no longer be accept gift cards as of March 12 as hundreds of stores close in the United States and Canada face closures.
The popular outdoor clothing chain will stop its honor rewards program, the Eddie Bauer Adventure Points program, once the closures begin. Catalyst Brands, the retail operator of Eddie Bauer, reportedly plans to shutter an estimated 180 stores located across the United States and Canada as part of its bankruptcy plans.
Women’s Wear Daily reported in January that the bankruptcy filing wouldn’t, however, impact the company’s manufacturing, e-commerce and wholesale operation in North America as it was in the process of transitioning ownership from Catalyst Brands to a new licensee, nor stores located in Japan. Eddie Bauer had previously filed for bankruptcy twice in its 106-year existence, initially in March 2003 when its then-parent company, Spiegel Inc., faced debts and was forced to close several stores.
The brand restructured as the stand-alone Eddie Bauer Holdings, Inc., and survived after concluding bankruptcy protection in June 2005. Eddie Bauer again faced bankruptcy when it was acquired by Golden Gate Capital in 2009, having later been acquired by Authentic Brands Group and SPARC Group LLC in 2011.
The retailer’s decision follows Saks Global Enterprises, the parent company of the luxury stores Saks Fifth Avenue, Neiman Marcus, annoucning it will close most locations of its Saks Off 5th and the five remaining Last Call stores amid its recent Chapter 11 bankruptcy in a statement to the Associated Press.
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