Eddie Bauer has returned home, but not to rich, velvet chairs and monogrammed sheets. The outdoor-apparel retailer, which emerged from bankruptcy...
Eddie Bauer has returned home, but not to rich, velvet chairs and monogrammed sheets.
The outdoor-apparel retailer, which emerged from bankruptcy yesterday as the standalone company Eddie Bauer Holdings, said it would close all of its 30 home stores beginning next month.
Eddie Bauer spokeswoman Lisa Erickson said the move would allow the company to focus on its core apparel and accessories business.
Of its 570 home-store employees, the company expects half to transfer to its apparel stores. The remaining employees will receive severance and outplacement assistance, Erickson said.
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For the Seattle metropolitan area, Eddie Bauer’s latest move translates into shuffling and closures at the region’s largest malls.
• At University Village in Seattle, Eddie Bauer will keep 8,500 of its current 19,000- square-foot space.
University Village general manager Susie Plummer said she should have tenants lined up for the vacant space later this summer. “There’s a lot of interest,” Plummer said. “It’s a nice space for me to be able to market.”
• Alderwood in Lynnwood opened a 62,000-square-foot Eddie Bauer Home Store six months ago as part of the mall’s upscale outdoor addition, The Village.
Eddie Bauer plans to convert the entire space to an apparel store, said Alderwood’s interim marketing director Nicole Grubbs.
• At Redmond Town Center, Eddie Bauer plans to retain its 23,000 square feet of space on separate floors. Its considered a mini-anchor with space comparable to a Borders Books & Music.
• Bellevue Square houses Eddie Bauer home and apparel stores on opposite floors. Eddie Bauer will continue to operate its apparel store and close its 9,000-square-foot home store, said Viki Ryan, of Kemper Development, which owns the mall.
“At this time, we have several prospects” to fill the space, Ryan said.
Eddie Bauer is an independent company for the first time in 35 years and after more than two years in bankruptcy court.
Spiegel, which owned the 85-year-old outdoor-apparel retailer since 1988, transferred its stake in Eddie Bauer to the newly formed Eddie Bauer Holdings.
The new parent — owned by Spiegel’s creditors — operates Eddie Bauer’s 400-plus stores in the United States and Canada, plus its catalog and Web site, from Redmond.
A collection of roughly six banks, led by Commerzbank, own the largest chunk of Eddie Bauer Holdings — at 45 percent.
Erickson said the retailer is in the process of registering its stock with the Securities and Exchange Commission.
Monica Soto Ouchi: 206-515-5632 or firstname.lastname@example.org