Eddie Bauer of Canada Inc. (“Eddie Bauer”) is an iconic brand in retailing that is headquartered in Bellevue, Washington. Eddie Bauer offers premium-quality clothing, accessories and gear for men and women. At the time of the filing, Eddie Bauer operated approximately 370 stores in the US and Canada and employed over 8,500 individuals.
Eddie Bauer restructured under separate, concurrent proceedings in Canada and the United States – a Chapter 11 process in the US and a proceeding under the Companies’ Creditors Arrangement Act in Canada. Working with the professionals involved in Canada and the US, a cross-border sale process was conducted, with an auction of the business conducted under Section 363 of the United States Code.
The proceeds generated from the sale process were sufficient to repay Canadian creditors in full.