One data point - in my local Simon Property shopping mall, the Eddie Bauer store closed down a few months ago. A new LL Bean store is "coming soon".

In retail, a certain rate of chain/brand churn is what you'd expect. If the public feels that some chain or brand is iconic, or has been around forever - that does not magically protect the underlying corporation from missing the boat on marketplace changes, or having its management go downhill, or the founder selling out to PE, or whatever.