Core Viewpoint - Eddie Bauer has filed for Chapter 11 bankruptcy protection due to declining sales and various industry challenges, marking its third bankruptcy in over two decades [1][2]. Company Summary - Eddie Bauer LLC has entered a restructuring agreement with secured lenders and filed for bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey [2]. - Most Eddie Bauer retail and outlet stores in the U.S. and Canada will remain operational while certain locations will be closed, with a court-supervised sales process in place [2]. - The CEO of Catalyst Brands, which operates Eddie Bauer stores, stated that the restructuring aims to optimize value for stakeholders and maintain profitability and liquidity [3]. - Eddie Bauer's international operations are unaffected by the bankruptcy filing, as they are managed by other licensees [3]. - Authentic Brands Group retains ownership of the Eddie Bauer brand's intellectual property and may license it to other operators [4]. Industry Context - Eddie Bauer's e-commerce and wholesale operations remain unaffected by the bankruptcy, as they are managed by Outdoor 5, LLC [5]. - The company is part of a growing trend of U.S. retailers closing stores or reorganizing under bankruptcy protection to focus on more profitable segments [5]. - Other retailers, such as the parent company of Saks Fifth Avenue and Amazon, are also facing challenges and closing locations [6][7]. - The outdoor retail market is becoming increasingly competitive, with brands like Fjallraven and Arc'teryx gaining traction while Eddie Bauer struggles with brand perception and product quality [13].