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Thursday, June 18, 2009
News Eddie Bauer files Chapter 11
Posted By Kimberly Lawson on Thu, Jun 18, 2009 at 10:42 AM
But it's not like your favorite outdoor clothing retailer is going to be shutting its doors anytime soon.
Eddie Bauer Holdings Inc. filed Wednesday for Chapter 11 bankruptcy protection, overwhelmed by debt payments and a steep drop in customer spending.Eddie Bauer has local stores at Northlake mall and Concord Mills Outlet.
The company has struggled with its debt — a crisis that worsened as revenue dropped, part of an overall trend affecting most retailers during the recession. The company has lost nearly a half-billion dollars in the past three years.
Read the rest of this Charlotte Business Journal story here.
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