Eddie Bauer shoppers have just over a week left to redeem their gift cards and loyalty rewards in stores before the struggling outdoor apparel retailer closes all of its brick-and-mortar locations during bankruptcy proceedings.
Customers must redeem any outstanding gift cards and Adventure Points by March 12. After that date, unused cards will lose their value as stores close. All sales during the liquidation period are final, and returns are not being accepted as the closures proceed.
The bankrupt retailer operates between 175 and 180 physical stores across North America, all of which are scheduled to close by April 30 unless a buyer is found for some or all of the locations, according to Chapter 11 documents filed in US Bankruptcy Court in New Jersey.
The bankruptcy and planned wind-down does not affect Eddie Bauer’s online, manufacturing or wholesale business, which are owned by the company Outdoor 5 and operated separately outside the Chapter 11 process. Stores outside the US and Canada also remain unaffected by this restructuring and will stay open.
This marks the third bankruptcy filing in just over two decades for Eddie Bauer, deepening a long decline for the once-iconic brand that began as a small Seattle fishing shop and rose to become a household name.
As part of its bankruptcy proceedings, Eddie Bauer LLC is marketing approximately 174 store leases totaling over 1.08 million square feet. Managed by RCS Real Estate Advisors, the portfolio includes 150 locations across 40 US states and 24 locations in six Canadian provinces. The stores occupy a mix of retail environments, including established malls, lifestyle centers, and high-traffic corridors, with average sizes of around 6,300 square feet.
Many of the leases are in key retail markets such as California, Pennsylvania, Washington, Wisconsin, Minnesota, New York, Michigan and New Jersey, according to RCS.
“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, the Rutland Herald reports. “This portfolio represents a rare opportunity to secure legacy retail locations in established centers nationwide. Our team is actively engaging the market to drive competitive interest and efficient lease dispositions.”
Upon Eddie Bauer LLC’s recent bankruptcy filing, Marc Rosen, CEO of Catalyst Brands, the parent company of the operator that holds the license to operate Eddie Bauer stores in the US and Canada, outlined the reasons behind it, which he said was “not an easy decision.”
“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,” Rosen said last month in a news release.
Eddie Bauer is the latest in a widening wave of US retailers shutting down stores in 2026 as companies restructure under bankruptcy protection or scale back operations to focus on their most profitable divisions.
Last month, the parent company of Saks Fifth Avenue filed for bankruptcy protection, citing mounting competitive pressures and heavy debt incurred from its acquisition of rival Neiman Marcus just over a year earlier. Within days of the filing, the company announced plans to close most Saks Off 5th locations, which offered discount designer clothing and accessories, as retailers attempt to stabilize their finances and streamline operations.
Founded in 1920 in Seattle as Bauer’s Sports Shop, Eddie Bauer built its name on innovative outdoor gear, including the patented Skyliner down jacket in 1936. The company supplied more than 50,000 jackets and sleeping bags to the US military during World War II and gained national recognition in 1963 when it outfitted the first American to summit Mount Everest. After founder Eddie Bauer retired in 1968, the brand shifted toward casual apparel and changed ownership several times, including sales to General Mills and Spiegel Inc.
Following Spiegel’s 2003 bankruptcy, the company was reorganized and later filed for bankruptcy again in 2009 before being acquired by Golden Gate Capital. In 2021, it was purchased by Authentic Brands Group and SPARC Group, which later merged with JCPenney to form Catalyst Brands.
At its peak in 2001, Eddie Bauer operated nearly 600 stores, according to commercial real estate data firm CoStar Group Inc.
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