DOWNERS GROVE, Ill. — A judge has approved a plan by Spiegel Inc. to close 60 Eddie Bauer stores — including one in The Shops at Riverwoods mall in Provo — in an effort to reorganize during bankruptcy.
Judge Cornelius Blackshear of the U.S. Bankruptcy Court in Manhattan also gave the company permission to sell inventory and other assets from the stores to a liquidator.
The apparel and home furnishings retailer, based in Downers Grove, filed for Chapter 11 protection in March. Gordon Brothers Retail Partners LLP submitted the highest bid at an auction and will act as the liquidation agent for the sales, according to Blackshear's order, signed May 22.
Fifty-one apparel stores, one outlet store and eight home stores located in 26 states and the District of Columbia are slated for closure. The company will continue selling inventory through its remaining stores, the Internet and catalogs.
The company announced in April it is also closing all of its Spiegel and Newport News outlet and clearance stores in its bankruptcy reorganization effort.