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 II.
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.
NYC nurses reach a deal to end a strike at 2 major hospitals
Nurses and two major hospital systems in New York City have reached a deal to end a nearly monthlong strike over staffing levels, workplace safety, health insurance and other issues.
The tentative agreement announced Monday by the nurses’ union involves the Montefiore and Mount Sinai hospital systems. Nurses remain on strike at NewYork Presbyterian.
The union said members at Montefiore and Mount Sinai hospitals will vote this week on whether to ratify the contracts and return to work.