Customers holding gift cards from Eddie Bauer are urged to act promptly as the retail operator’s bankruptcy declaration means these cards will soon lose their value. According to reports from Birmingham Live, Eddie Bauer shoppers have less than a month to redeem their gift cards and loyalty points before they become invalid. The company behind Eddie Bauer’s outlets, Catalyst Brands, is looking to sell the business while shutting down its branches in Canada and the US.
All rewards and gift cards earned through Eddie Bauer’s Adventure Points program will no longer be usable after March 12, as per court documents. The closure of these stores in both countries will be final, with no returns accepted for purchases made during the winding-down process. Eddie Bauer LLC, which operates around 180 locations across the US and Canada, is facing the possibility of ceasing store operations if a buyer is not found.
Marc Rosen, the CEO of Catalyst Brands, expressed the difficulty of the decision to file for bankruptcy but emphasized that it was necessary to optimize value for stakeholders and maintain the profitability and liquidity of the company. In Canada, 24 out of the 175 North American outlets are located, with roughly 379 employees affected by the bankruptcy protection filing.
It is important to note that Eddie Bauer’s online retail and wholesale operations, managed by a separate entity known as Outdoor 5, are not impacted by the bankruptcy proceedings. Similarly, Eddie Bauer outlets outside of Canada and the US, operated by different licensees, are not part of the bankruptcy and remain unaffected. As the bankruptcy process advances, all physical stores in Massachusetts and across the country are expected to close.
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