Are all Eddie Bauer stores closing? Here's what we know.

All Eddie Bauer stores are connected the verge of closing aft the covering retailer failed to find a purchaser arsenic it navigates Chapter 11 bankruptcy, according to tribunal documents filed successful aboriginal March.

Eddie Bauer LLC, the relation of Eddie Bauer stores successful the United States and Canada, and a licensee of the Eddie Bauer brand, could not find a satisfactory bidder for its assets by its March 3 deadline, according to a announcement filed successful the U.S. Bankruptcy Court of New Jersey. Since the retailer had nary qualified bids for its remaining assets, the auction acceptable for March 6 was canceled.

The Seattle-based covering retailer filed for Chapter 11 bankruptcy connected Feb. 9, citing declining sales, proviso concatenation challenges and different issues for its existent fiscal situation. The filing was made by Eddie Bauer LLC, a part of Catalyst Brands, which holds the licence to run astir 180 Eddie Bauer stores successful the United States and Canada.

The Feb. 9 filing marks the 3rd clip the retailer has filed for bankruptcy, with the different 2 times occurring successful 2003 and 2009.

"This is not an casual decision," Marc Rosen, CEO of Catalyst Brands, said successful a statement. "However, this restructuring is the champion mode to optimize worth for the retail company's stakeholders and besides guarantee Catalyst Brands remains profitable and with beardown liquidity and currency flow."

With Eddie Bauer not uncovering a buyer, it volition proceed store-closing income astatine each of its brick-and-mortar locations "unless and until a much value-maximizing transaction becomes available," according to the caller notice.

When contacted by USA TODAY connected Saturday, March 7, Eddie Bauer LLC said it is "not commenting publically beyond what is successful the company’s tribunal filings."

Here's what to cognize astir the destiny of Eddie Bauer going forward.

In summation to not uncovering a bidder by March 3, Eddie Bauer confirmed that it retained RCS Real Estate Advisors, a nationalist retail existent property advisory firm, to marketplace 174 store leases. Eddie Bauer's store portfolio includes 150 locations crossed 40 U.S. states and 24 locations crossed six Canadian provinces, according to RCS Real Estate Advisors' quality release.

“As portion of the Chapter 11 process, we are focused connected maximizing worth and identifying opportunities for landlords, retailers and different uses seeking prime retail abstraction successful proven commercialized areas,” Ivan Friedman, president and CEO of RCS Real Estate Advisors, said successful a statement. “This portfolio represents a uncommon accidental to unafraid bequest retail locations successful established centers nationwide."