Retail operator of outdoor sportswear pioneer Eddie Bauer files for bankruptcy

Business

Retail operator of outdoor sportswear pioneer Eddie Bauer files for bankruptcy

2026-02-10 00:00 Last Updated At：00:10

NEW YORK (AP) — The operator of roughly 180 Eddie Bauer stores across the U.S. and Canada has filed for Chapter 11 bankruptcy protection, blaming declining sales and a litany of other industry headwinds.

The bankruptcy filing marks the third time in a little over two decades for the storied-but-now-tired brand that began as a Seattle fishing shop, later outfitted the first American to climb Mount Everest and made thousands of newfangled down jackets and sleeping bags for the military during World War I.

Eddie Bauer LLC said Monday it had entered into a restructuring pact with its secured lenders as it made the filing in the U.S. Bankruptcy Court for the District of New Jersey.

Most Eddie Bauer retail and outlet stores in the U.S. and Canada will remain open as the company winds down certain locations. It noted that it will conduct a court-supervised sales process, and if a sale can't be executed, it will begin a wind-down of its U.S. and Canadian operations.

“This is not an easy decision,” said Marc Rosen, CEO of Catalyst Brands, which maintains the license to operate Eddie Bauer stores in the U.S. and Canada. “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.”

Eddie Bauer’s stores outside of the U.S. and Canada are operated by other licensees, are not included in the Chapter 11 filings, and will stay open, according to the release.

Authentic Brands Group continues to own the intellectual property associated with the Eddie Bauer brand and may license the brand to other operators, the company said. The operations of other brands in the Catalyst Brands portfolio are not affected by this filing and will continue in the normal course, according to the company.

Eddie Bauer’s e-commerce and wholesale operations will also not be impacted by the wind down, as they are operated by a company called Outdoor 5, LLC. That was a transition it made in January and became effective Feb. 2.

Eddie Bauer joins a growing list of U.S. retailers this year that are closing stores, as companies reorganize under bankruptcy protection or pare down their operations to focus on the most profitable businesses.

The parent company of Saks Fifth Avenue said last month that it was seeking bankruptcy protection, buffeted by rising competition and the massive debt it took on to buy its rival in the luxury sector, Neiman Marcus, just over a year ago. A few days later, the parent company said it was closing most of its Saks Off 5th stores.

Amazon said earlier this month that it was closing almost all of its Amazon Go and Amazon Fresh locations within days as it narrows its focus on food delivery and its grocery chain, Whole Foods Market.

Eddie Bauer’s namesake founder — an avid outdoorsman — started the company in Seattle in 1920 as Bauer’s Sports Shop, according to the brand’s website. In 1945, after making more than 50,000 jackets for the military, it launched a mail-order catalog.

“Bauer’s Sports Shop was not just a place where people purchased clothing and gear, it was a community hub where folks gathered to share their wisdom, learn, and talk about their experiences in the outdoors,” the website says.

The company created an American goose-down insulated jacket, known as the “Skyliner,” in 1936, and it became the company’s first patented jacket. It also outfitted the first American to climb Mount Everest — James W. Whittaker — with an Eddie Bauer parka in 1963.

After Bauer retired in 1968 and sold the business to his partner, the outdoor brand shifted more toward casual apparel and was bought by General Mills Inc. in 1971 and then by Spiegel Inc. in 1988. After Spiegel filed for bankruptcy in 2003 and most of its assets were sold, the remainder of the company was reorganized in 2005 as Eddie Bauer Holdings Inc.

In June 2009, Eddie Bauer filed bankruptcy and was acquired by Golden State Capital, the following month. In 2021, it was acquired by Authentic Brands and SPARC Group LLC.

A year ago, Catalyst was formed by the merger of SPARC and JCPenney, which Simon Property Group and fellow mall landlord Brookfield bought out of bankruptcy.

Rosen noted that even prior to the inception of Catalyst Brands last year, Eddie Bauer was in a “challenged situation.”

“Over the past year, these challenges have been exacerbated by various headwinds, including increased costs of doing business due to inflation, ongoing tariff uncertainty, and other factors,” he said.

He noted that while Catalyst's leadership was able to make improvements in product development and marketing, those changes could not be implemented fast enough to fully address the problems created over several years.

Eddie Bauer had nearly 600 stores at its peak in 2001, according to CoStar Group Inc., a commercial real estate data firm.

In a note published earlier this month, Neil Saunders, managing director of GlobalData Retail, wrote that while the Eddie Bauer name is “well known”, the brand hasn’t kept pace with rivals like Swedish outdoor brand Fjallraven and Canadian label Arc'teryx. He also cited issues with quality deteriorating, which, for an outdoor brand measured by the performance of its products, is very problematic.

“And for many younger shoppers, the brand is seen as somewhat old-fashioned and a bit irrelevant, ” he noted.

AP Business Writer Mae Anderson contributed to this report.

As head of the actors guild, Sean Astin brings a little Rudy, a little Samwise, and a lot of fight

LOS ANGELES (AP) — Sean Astin has taken on the presidency of the SAG-AFTRA at a particularly perilous time for the actors union, and for Hollywood. There's the threat of human actors being replaced by artificial intelligence. The ongoing upheavals of streaming. Studio consolidation and realignment.

Nearly three years ago, the actors launched a four-month strike, securing some protections and higher wages. And on Monday, negotiations on a new three-year contract with studio and streamers are already beginning again.

So what actor would want this role?

“In my imagination, growing up, I would want to have been in a place of consequence,” he told The Associated Press in an interview in his office at the guild's Los Angeles headquarters. “And so to have the opportunity to be in a role, leading a union of 160,000 people at this moment of consequence when there’s turmoil, when there’s fear and uncertainty and danger, this is exactly where I want to be.”

Astin, an elected board member during the strike who left his mark as a fiery rally speaker, won the presidency in September, replacing the outgoing Fran Drescher.

As an actor, the now-54-year-old is known as the leader of a scrappy band of kids in 1985's “The Goonies,” an aspiring football player with never-ending grit in 1993's “Rudy,” and Samwise Gamgee, Frodo Baggins' steadfast bestie in the “Lord of the Rings” trilogy.

He's a SAG lifer, becoming a member as a young boy in 1981. His mother, Oscar winner Patty Duke, who died in 2016, was president of the guild from 1985 to 1988, before it added the -AFTRA in a 2012 merger.

His father, John Astin, now 95, is best known for playing Gomez on “The Addams Family.” His brother Mackenzie Astin is a child star turned journeyman actor who recently had a three-episode arc on “The Pitt.”

Sean Astin said he hopes to get actors like his brother, who rely heavily on small ongoing payments for guest roles, to have streaming residuals pay as well as they do for broadcast TV.

“I can’t wait to be at a Thanksgiving or a Christmas with him and nudge him and say, ‘Hey, how’s your residuals doing?’” he said.

Astin said he has reason to believe the new talks won't start with actors and their employers at each other's throats.

“They came in last time provoking the fight,” he said, referring to the Alliance of Motion Picture and Television Producers. “They wanted the strike. No question in my mind. I was in those rooms every single day. They’re sending much different signals now. They’re sending signals of wanting stability, of wanting to work as partners again.”

The AMPTP said in a statement to the AP that the group representing studios and streamers looked “forward to working collaboratively with our partners at SAG-AFTRA as we commence formal bargaining.”

“By taking the time to thoughtfully engage on the challenges confronting our industry, we are optimistic that, together, we can reach a fair deal that reflects our shared commitment to supporting our industry’s talented performers and promoting long-term stability,” the statement said.

Astin said the guild won't yield any of the ground it won in 2023, whether it be wage increases or requiring informed consent for the use of actors' likenesses via AI. and that means they can’t disarm in advance -- striking is not out of the question, whatever the lingering pains from last time.

“There’s only one real tool available to a labor union in a negotiation, and that’s saying no,” Astin said. “We reserve the right to say no again if we need to.”

On March 1, the guild will hold the world's most glamorous union meeting, the newly renamed Actor Awards, where high-profile members like Leonardo DiCaprio and Emma Stone are nominated. But the vast majority of acting members don't even make the approximately $27,000 a year required to qualify for guild health insurance. And Astin represents the guild's full membership — including video game actors, puppeteers, broadcast journalists and TV announcers. He's spent much of his time since his election — and plenty before that — learning the specific concerns of, for example, stunt drivers or actors who live in Minnesota or New Mexico.

“I will say to everybody, I’m gonna fight as hard for you as anybody has ever fought for you, for your issue,” he said. “People say, ‘You can’t fight for everybody equally.’ I say, ‘Yes, I can.’”

A speech Samwise gives in “The Two Towers” — “There’s some good in this world, Mr. Frodo. And it’s worth fighting for” — became an Astin rallying cry during the strike.

He said that he can also draw from his other characters for traits he ought to embody now.

“The qualities that make Rudy special — determination, grit, inspiration, aspiration — whatever is a part of that thing that makes him, makes his story touch the lives of so many people, is the part of myself that I want to pour into this job on behalf of my members,” he said.

And then there's Mikey from “The Goonies.”

“If you think of ‘The Goonies,’ ‘The Goonies’ is about saving their home,” he said. “It’s fun, there’s a pirate ship, but it’s about a group of friends who don’t want to be overtaken by industrialists. Maybe that’s the most important one.”