The future of a storied American outfitter is once again clouded by uncertainty, as reports swirl that an Eddie Bauer bankruptcy filing may be imminent.

Multiple outlets, including Business Insider, report that as many as 180 retail locations across North America could shutter if the financial restructuring proceeds — a move that would send ripples through malls and shopping centers already grappling with shifting consumer habits.

Chapter 11 Filing Reportedly in the Works

Catalyst Brands, the company licensed to operate Eddie Bauer stores in the United States and Canada, is preparing for a potential Chapter 11 bankruptcy filing, according to a source familiar with the situation who spoke to PEOPLE.

Business intelligence platform Octus indicated that the filing could come as early as February. Sources who disclosed Catalyst’s mid-January plans cautioned that discussions remain fluid and that the strategy could still change.

Eddie Bauer currently operates roughly 200 brick-and-mortar stores worldwide, with the vast majority concentrated in the U.S. and Canada. If the reported Chapter 11 filing materializes, about 180 North American locations may be affected.

International Stores Unaffected

The potential restructuring would not extend beyond North America, a source confirmed to PEOPLE. Eddie Bauer’s international footprint — including approximately 20 stores in Japan, as reported by WWD — would remain untouched.

Ownership of the Eddie Bauer brand and its intellectual property rests with Authentic Brands Group, which licenses operations to various partners.

Manufacturing and Online Business to Continue

Even if Catalyst moves forward with bankruptcy proceedings, Eddie Bauer’s manufacturing, wholesale and online operations are expected to continue without disruption.

Those divisions are in the process of transitioning — or have already transitioned — from Catalyst to a new licensee, O5, formerly known as Oved. Authentic announced the transfer in a Jan. 8 press release, describing the move as part of a broader effort to expand the heritage brand’s digital presence and grow its “online footprint.”

Catalyst’s retail portfolio extends beyond Eddie Bauer, encompassing brands such as Aéropostale, Lucky Brand, Nautica and JCPenney.

Authentic Brands Group declined to comment when contacted by PEOPLE. Catalyst Brands did not immediately respond to a request for comment.

A Brand Familiar With Reinvention

Founded more than a century ago, Eddie Bauer has weathered numerous ownership changes over the decades. The company previously sought Chapter 11 bankruptcy protection in 2009, according to WWD.

Now, as headlines once again spotlight an Eddie Bauer bankruptcy, the brand stands at another crossroads — caught between its rugged, outdoor legacy and the relentless evolution of modern retail.

For a company built on resilience and exploration, the path forward may demand both.