Eddie Bauer, Francesca’s File Chapter 11

These two retailer have entered Chapter 11 Bankruptcy proceedings:

* Outdoor retailer Eddie Bauer LLC (Bellevue, Wash.), a licensee and operator of the brand’s stores in the United States and Canada, said it has entered into a Restructuring Support Agreement (RSA) with its secured lenders and filed for Chapter 11 Bankruptcy. The company said in a news release it is pursuing a two-path wind-down strategy involving a going-concern transaction (ie., finding a buyer for all or some of its stores) or closing all 180 of its physical outlets in the two countries. The company also said e-commerce and wholesale operations under the Bauer name are not impacted by the wind down, as they are run by a separate licensed operator, Outdoor 5 LLC. Authentic Brands Group is owner of the Eddie Bauer brand and intellectual property rights worldwide, and licenses them to Catalyst for the chain’s Eddie Bauer stores.

* In the aftermath of reports of its apparent demise in recent weeks, Francesca’s (Houston) has filed for Chapter 11. The fashion group announced the Feb. 6 action in a news release that said the “filing is intended to facilitate a court-supervised process to maximize value for stakeholders.” That includes going-out-of-business sales at its 450 stores nationwide, initially offering 25-40% off all merchandise.