All Eddie Bauer stores to close after failure to find a buyer
The entity running the brand’s locations, which licenses the intellectual property from Authentic Brands Group, filed for bankruptcy last month.
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Most US Eddie Bauer stores likely to close as operator preps bankruptcy
Authentic Brands Group, which owns the brand’s intellectual property, last month shifted its e-commerce and wholesale licenses to another company.
Eddie Bauer files for bankruptcy, begins winding down all stores in the US and Canada
Going-out-of-business sales have begun and, unless the brick-and-mortar operations find a buyer, all 175 locations will close by April 30, per court filings.
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Authentic Brands Group now owns 77% of the entity that controls a perpetual master license to Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.
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The retailer, which is closing its last 89 locations, filed for bankruptcy in November as sales plummeted and losses widened amid a soft housing sector.
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The combined entity will give a “streamlined reporting structure,” and enable collaboration. Meanwhile, the retailer posted flat Q4 sales and a comps drop.