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UPDATE 1: Eddie Bauer Stores Entity Preparing to File, Represented by Kirkland

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Thu Jan 15, 2026 05:11 PM ET: Catalyst Brands, which owns the licensing rights to distribute Eddie Bauer products at brick-and-mortar stores, is preparing a chapter 11 bankruptcy filing for Eddie Bauer stores, according to sources. The physical store entity is represented by Kirkland & Ellis, the sources added.

The filing is expected to come in February, sources said while cautioning plans were not yet final and could change.

Catalyst Brands and Kirkland & Ellis did not respond to requests for comment.

Original Story 5:34 p.m. UTC on Jan. 8, 2026

Operator of Eddie Bauer Stores Weighs a Restructuring for Outdoor Brand, Including Chapter 11 Filing

Catalyst Brands, which owns the license rights to distribute Eddie Bauer products at its brick-and-mortar locations, is weighing a restructuring of real estate and inventory liabilities tied to the outdoor brand, according to industry sources. The restructuring could involve a chapter 11 filing for the Eddie Bauer-related brick-and-mortar entity, but no decisions have been made, the sources added. The Eddie Bauer entities’ liabilities mainly concern landlord and vendor payments, they said.

The brick-and-mortar license is separate from the Eddie Bauer intellectual property, which is owned by Authentic Brands Group. Today, Authentic Brands announced that the licenses to sell Eddie Bauer products via e-commerce and wholesale operations would be moved to Outdoor 5 (Oved), after previously being licensed to Catalyst Brands.

Catalyst Brands was formed in early 2025 from the merger of Sparc Group, the entity overseeing Eddie Bauer and other clothing brands, and J.C. Penney. Catalyst launched with more than $9 billion in revenue, 1,800 stores and $1 billion in liquidity, according to a press release. WhiteHawk Capital provided a $600 million first-in, last-out facility to Catalyst Brands in October 2025 to strengthen its capital structure and provide liquidity to support store modernization. Simon Property Group, Brookfield Corp., Authentic Brands Group and Shein are shareholders in Catalyst Brands.

Eddie Bauer filed for chapter 11 bankruptcy protection in 2009. It was advised by Latham & Watkins, Peter J. Solomon Co. and Alvarez & Marsal. Eddie Bauer’s assets were bought by Golden Gate Capital for $286 million. In 2021, Authentic Brands Group announced it had acquired Eddie Bauer’s intellectual property and core operating business.

Authentic Brands Group and Catalyst Brands did not respond to requests for comment.

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