Outdoor clothing chain Eddie Bauer has filed for chapter 11 protection amid growing debt and decreasing sales. They do have a buyer lined up and plan on keeping their stores, catalog business, and website operational – so don’t expect a Circuit City-esque sell off to ensue.
Some analysts felt that Eddie Bauer had lost its way, became too mall friendly and drifted from its brand. The announcement last month that the chain outfitted two climbers attempting Everest was seen as a move back in the right direction:
Eddie Bauer celebrated a new line called First Ascent last month by outfitting two mountaineers as they took on Mount Everest: Ed Viesturs (who has made a habit of climbing 8,000-meter peaks without bottled oxygen) and Peter Whittaker, the nephew of Jim Whittaker, who was also wearing Eddie Bauer when he became the first American to successfully reach the summit of Mount Everest in 1963.