Outdoor retailer Eddie Bauer is the latest company to file for bankruptcy.
The company’s leaders blamed declining sales and other industry headwinds.
This is the third time in about 20 years that the brand had to file for bankruptcy, The Associated Press reported. It filed in 2003 and 2008, The New York Times reported.
Eddie Bauer started as a fishing shop in Seattle. It has a strong history of providing gear for the first American to climb Mount Everest and made down jackets and sleeping bags for the military in World War II.
The company’s namesake and founder made the down jacket for himself and his friends after he got hypothermia on a winter fishing trip. He patented the design of the warm coat and started a store that ended up growing into a worldwide brand, the Times reported.
The only Eddie Bauer location in the Jacksonville area is at the St. Augustine Premium Outlets, 2700 State Road 16, Suite 103, St. Augustine, FL 32092.
The company entered into a restructuring agreement with lenders, the company said in a news release.
Eddie Bauer will keep most retail and outlets open in the U.S. and Canada, but will close some. If a sale cannot be completed, then it will close all operations in the two countries, the AP said.
There are about 220 Eddie Bauer stores in the U.S. and Canada, according to the Times.
The company said that operations outside of the U.S. and Canada will not be affected.
When asked by CNN what stores could be closed, a spokesperson said they could not provide that information.
Authentic Brands Group owns the intellectual property of the Eddie Bauer brand and may license it to others.
E-commerce and wholesale operations are not part of the bankruptcy filing. They are operated by a separate company.
The filing was done on Feb. 9 in the U.S. Bankruptcy Court for the District of New Jersey.