Eddie Bauer Files Chapter 11 Bankruptcy »
Posted By Eagle_Eye 5 months, 3 weeks ago in Business & FinanceNEW YORK (June 17) - Eddie Bauer Holdings Inc. is seeking Chapter 11 bankruptcy protection, the latest retail casualty of the recession.
The clothing retailer had $476.1 million in total assets and $426.7 million in total debt at the time of the filing Wednesday in the United States Bankruptcy Court of the District of Delaware.
The Wall Street Journal reported, citing anonymous sources, that the company is likely to be acquired by private-equity company CCMP Capital Advisors.
Bankruptcy rumors had been swirling as Bellevue, Wash.-based Eddie Bauer struggled with slumping sales amid the recession. It reported a loss for the first quarter of $44.5 million.
Eddie Bauer and CCMP did not immediately return calls for comment.
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Eagle_Eye
I am a female who has lived a complex life with complex situations and have learned a lot from my experiences.
I love the Environment ...
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Eagle_Eye5 months, 3 weeks ago
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I really have to wonder if this is a good thing or a bad thing.
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We are a nation of "consumers" not "suppliers" and this is really getting bad. I don't see an end to this and see further decline unless we as a nation begin to focus on America's problems and change our buying habits. -
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SoSoJoeComment removed: Hard Banned
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