Overshadowed by GM and Chrysler’s bankruptcy filings, a popular outdoor clothing retailer, Eddie Bauer, could be headed to bankruptcy before the end of the week.

The company hasn’t been doing well the last few years, and has lost money for three consecutive years.

Most retailers are feeling the pinch of the recession, but some of them, like Eddie Bauer, have been carrying large amounts of debt for years. As revenue has recently decreased, the bills have been impossible to keep up with.

Let this be a lesson to you if you are struggling with a large amount of debt. Companies file for bankruptcy to help them restructure for their future gain.

You can have the same opportunities in your own personal financial situation, so why not take advantage of them? If you would like to find out more about how bankruptcy can help you, don’t hesitate to contact a Dallas-Fort Worth Bankruptcy attorney.