An iconic American outdoors brand is being forced to rethink its business route, with a major operator filing for bankruptcy amid plummeting sales.
The operator of roughly 180 Eddie Bauer stores across the US and Canada has filed for Chapter 11 bankruptcy protection, citing declining sales and a host of other industry challenges.
This marks the third bankruptcy in just over two decades for the storied – but increasingly struggling – brand, which began as a Seattle fishing shop in 1920.
A spokesperson for Authentic Brands Group, which continues to own the Eddie Bauer brand and all associated intellectual property worldwide, told the Daily Mail that a new strategy is in place to ensure the brand endures for the next generation.
Under this strategy, Eddie Bauer will focus on expanding its wholesale and digital channels, moving away from the challenges of maintaining a large network of physical stores.
The brand will also place a strong emphasis on launching innovative product lines that leverage cutting-edge materials and design, reinforcing its reputation for quality and adventure-ready performance.
The company’s namesake founder and avid outdoorsman, originally launched it as Bauer’s Sports Shop 106 years ago.
In 1945, after producing more than 50,000 jackets for the military, the company introduced a mail-order catalog. At its peak, Eddie Bauer operated over 600 stores.
https://www.dailymail.co.uk/yourmoney/article-15543259/eddie-bauer-bankruptcy-store-closures.html