Monday, April 28, 2003
Westports Eddie Bauer store, a fixture for many years at the intersection of Post Road East and Taylor Place in the heart of the town center, is closing.
The Spiegel Group Inc. said the store—which it actually counts as two as it has apparel as well as home items—is one of its 60 underperforming Eddie Bauer stores it plans to close as part of its Chapter 11 bankruptcy reorganization.
The Downers Grove, Ill.-based catalog retailer said the closings affect 51 apparel stores, eight home stores and one outlet store in 25 states plus the District of Columbia. It said it may close more of its 529 Eddie Bauer stores in the future.
Eddie Bauer operates outdoor-themed stores in the United States and Canada. Spiegel said the closures should improve the chain’s financial results in fiscal 2003 and beyond. It said the stores will remain open pending the bankruptcy court’s approval of the store-closing plan.
Spiegel did not say how many jobs will be lost. The company, founded in 1865, filed for protection from creditors in March.
THe 16,400-square foot building at 40-44 Post Road East was sold in 2002 by Maryland-based Federal Realty Investment Trust to a Greenwich-based real estate investment group for $7.5 million. It had purchased the building in 1994 for $4.2 million.
Longtime Westporters will remember the Eddie Bauer location as housing the old Ship’s Lantern Restaurant as well as Colgan’s Pharmacy. The Ship’s name is retained by the Ship’s Corner Chinese takeout which occupies the rear portion of the building facing on Jesup Road.