American specialty clothing retailer Eddie Bauer Holdings Inc. is up for sale again after filing for bankruptcy court protection from creditors, a move that could affect some of its estimated 36 stores in Canada.
Citing a crushing debt load and prolonged recession, the Bellevue, Wash.-based retailer said it has filed for Chapter 11 bankruptcy protection in the U.S. as vendors became increasingly nervous about its ability to pay its bills.
The company's Canadian operations have also filed for bankruptcy protection under the Companies Creditors and Arrangements Act.
The retailer, which operates 371 stores, mainly in the U.S., said that after considering all of its alternatives it is hoping to be sold.
It has an offer already from a New York-based private equity firm, CCMP Capital Advisors LLC, for $202 million U.S. The deal is subject to a court supervised auction process during which other bidders could emerge.
CCMP has committed to keeping "a majority" of the stores open and most of the 10,000 employees on staff. Exact numbers were not provided.
The company said it remains open for business and will continue to honour gift cards, returns and loyalty point programs during the sale process, which it expects to complete within 60 days
Life only makes sense when you look at it backwards.
WarRI1 From United States of America, joined Sep 2007, 7645 posts, RR: 10 Reply 1, posted (4 years 5 months 3 weeks 5 days 2 hours ago) and read 1686 times:
It does not surprise me, Many years ago they were a first class provider of outdoor wear, I, and my brothers bought many items from them. They evolved into just another clothing store, 100 % imported merchandise, cheap gadgets, no sympathy from me. I feel sorry for the people who may lose their jobs.
It is better to die on your feet, than live on your knees.
Falstaff From United States of America, joined Jun 2006, 5877 posts, RR: 28 Reply 2, posted (4 years 5 months 3 weeks 5 days 1 hour ago) and read 1667 times:
Quoting WarRI1 (Reply 1): Many years ago they were a first class provider of outdoor wear
Yep... Then they turned into a store with a bunch of junk. A few years ago they got better, not much, but at least they didn't go the way of Ambercrombie & Fitch. I was a big fan of Woolrich outdoor clothes a few years ago, but I haven't seen much from them in a while.
Superfly From Thailand, joined May 2000, 39418 posts, RR: 76 Reply 4, posted (4 years 5 months 3 weeks 2 days 20 hours ago) and read 1530 times:
Quoting AirframeAS (Reply 3): Their clothing was really good 10 years ago and were very affordable. Now they are expensive as hell!!!!
They were expensive as hell 15 years ago.
I worked there for Christmas season back in 1994. I won a brand new goose-down jacket in a drawing and it was a $370.00 jacket back then.
I still have that jacket and is great in the snow.
I do agree that the place is expensive and trendy, but I thought it's been that way for well over 20 years.
What will Ford use for their designer edition SUVs?
My favorite of the Eddie Bauer's was the O.J. Simpson model Broncos between 1992-1996.
AirframeAS From United States of America, joined Feb 2004, 14150 posts, RR: 25 Reply 5, posted (4 years 5 months 3 weeks 2 days 10 hours ago) and read 1478 times:
I remember seeing a while back that Eddie Bauer was the uniform vendor for QX. Can anyone confirm that? I remember seeing a group of QX ramp agents wearing the Eddie Bauer outdoor gear and had QX embroidered on the garments.
A Safe Flight Begins With Quality Maintenance On The Ground.
Revelation From United States of America, joined Feb 2005, 11406 posts, RR: 24 Reply 6, posted (4 years 5 months 3 weeks 2 days 10 hours ago) and read 1472 times:
Quoting AirframeAS (Reply 3): Same here. I used to be a HUGE Eddie Bauer fan. Their clothing was really good 10 years ago and were very affordable.
I agree they were very good quality, but never felt they were "very affordable".
Their quality has gone downhill, and their prices are still high.
The stuff I bought 10-15 years ago would go out of favor before they wore out. I still have some of the shirts from 10-15 years ago and they are unbelievably high quality.
Now it's no better than anyone else.
I have still used them because I like mail order convenience and I need to get tall sizes.
Over the last few years, a lot of my business has swung to JC Penny. They have similar quality, similar convenience, and better prices. In particular, I can get tall sizes from their catalog with no hassles, and if I don't like what I get, I can drop it of at the store in town. Bauer closed their store in town at the last downsizing.
I think Bauer over-expanded into retail, and had to keep cheapening the product to stay afloat.
I hope Ch. 11 allows them to go back to their roots, but I doubt it.
There still are some items I prefer to order from them, so I hope they can make it through.
Superfly From Thailand, joined May 2000, 39418 posts, RR: 76 Reply 7, posted (4 years 5 months 3 weeks 2 days 9 hours ago) and read 1461 times:
Quoting Superfly (Reply 4): I worked there for Christmas season back in 1994.
It was Christmas season 1992.
Anyway you slice it, $375 is an awful lot of money for a jacket.
Quoting Revelation (Reply 6): I agree they were very good quality, but never felt they were "very affordable".
Quoting Revelation (Reply 6): The stuff I bought 10-15 years ago would go out of favor before they wore out. I still have some of the shirts from 10-15 years ago and they are unbelievably high quality.
My Eddie Bauer jacket came in handy when I went skiing up in Yosemite a few months ago.