Brandweekreports that Eddie Bauer will be honoring gift cards despite the recent bankruptcy. CCMP, the stalking-horse bidder that is likely to win court approval to buy Eddie Bauer in the bankruptcy auction, has agreed to honor gift cords.
Eddie Bauer sells its gift cards and e-cards into the incentive and corporate markets channel, and is a member of the Incentive Gift Card Council.
Citing concerns about its ability to meet debt payments, the Seattle-based firm, established in 1920, asked the U.S. Bankruptcy Court in Delaware to allow the sale to an affiliate of CCMP for $202 million in cash. It is pursuing a related case in Canada.
According to a company statement, CCMP "intends to operate the business as a going concern with little or no long-term debt. CCMP Capital has agreed to: Keep the majority of the stores open and retain the majority of the employees; support company motions to maintain critical vendor relationships and payments; and support company motions to honor gift cards and the company's loyalty reward program."
Things could still work out differently for Eddie Bauer gift card holders if the CCMP planned purchase does not succeed.
Brandweek 
