23 June 2009 – Eddie Bauer joins Circuit City, Linens ‘N Things, Mervyns and other retail chains that have filed for bankruptcy court protection as consumer spending has fallen and the recession continues. Last Wednesday, Eddie Bauer, best known for it’s outdoor clothing line filed for Chapter 11 bankruptcy. Eddie Bauer considered a reorganization, sale, or liquidation through Chapter 11 bankruptcy protection as it continued operations under a modified business plan. However, it now hopes simply to be sold. This is yet another sign of the continued recession and that the economy has likely not hit bottom. No one knows what will happen to Eddie Bauer‘s prime real estate location on the Magnificent Mile. According to CB Richard Ellis Inc. data reported by Crain’s, the toney shopping street was already suffering from its highest vacancy rate in the past ten years of 7.2%.Email This Post To a Friend.
Eddie Bauer Bankruptcy Likely to Further Increase the Magnificient Mile’s Already High Vacancy Rate
June 23, 2009
Subscribe to our e-mail newsletter to receive updates.