Chapter 11 Bankruptcy for Eddie Bauer Holdings, Inc.

June 19, 2009 · Posted by Alex

From CNN.com:

“Eddie Bauer Holdings Inc. filed for Chapter 11 bankruptcy protection Wednesday, citing an inability to pay back debt.

Eddie Bauer (EBHI) emerged from Chapter 11 bankruptcy in 2005 after being spun off from former owner Spiegel Catalog, which itself sought bankruptcy protection in 2003.

Costs from the 2005 reorganization, combined with pressure from the current recession, left the company ‘with no choice but to use this process to reduce the debt load,/ said chief executive Neil Fiske in a prepared statement.’”

Eddie Bauer has 371 stores nationwide, including in Orange County (notably, in Costa Mesa’s South Coast Plaza), and plans to keep most of the stores open during the bankruptcy process.  If a new buyer takes over, however, it’s unclear what effect that would have on store closings.

For more bankruptcy information, click here

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Polaroid Files for Chapter 11 Bankruptcy — Again

December 22, 2008 · Posted by Alex

Orange County residents learned earlier this year of Circuit City’s bankruptcy and store closings; now it appears that the stores that remain open may have one less brand of merchandise to sell — Polaroid. Back in February, Polaroid stopped producing it’s signature instant film cameras, and switched gears to focus on LCD TV’s, digital cameras, and other such electronics products. Now, the bankruptcy attorneys for Polaroid have begun the Chapter 11 bankruptcy process because Polaroid’s parent company, Petters Group Worldwide, is embroiled in a fraud investigation. Polaroid said that the bankruptcy reorganization will not impact day-to-day operations, and that Polaroid will likely be sold at the end of the process.

So fear not, Orange County. It seems that, for the time being at least, you can still shop for Polaroid products this holiday season, whether at the Irvine Spectrum, Fashion Island in Newport Beach, South Coast Plaza in Costa Mesa, the Mission Viejo Mall, or at any of the many other Orange County shopping centers.

Polaroid filed for Chapter 11 bankruptcy previously in 2001.

For More Information: click here

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