Eddie Bauer launches liquidation sales in Canada as store operator seeks bankruptcy protection and a buyer
Latest news on WhatsApp أجدد الأخبار على واتسابEddie Bauer is rolling out liquidation sales in Canada as part of bankruptcy proceedings involving the operator of its North American stores, Global News reported.
The company said liquidation will run alongside an accelerated process to pursue a sale of all or part of its store operations, meaning the path could shift if a going-concern deal is reached.
Reuters reported the store operator filed for bankruptcy protection in the U.S., began liquidation sales across roughly 180 stores in the U.S. and Canada, and is keeping the door open to a buyer for the brick-and-mortar business. Reuters also cited about $1.7 billion in debt and a target timeline to seek court approval for a potential sale by March 12.
Global News noted Eddie Bauer lists 31 locations currently open in Canada, with more than half in Ontario, and stores are expected to remain open while liquidation gets underway.
