Eddie Bauer Files For Bankruptcy
June 22 | Posted by Lira | Fashion News Tags: assets, balance sheet, bankruptcy, ccmp capital advisors, ccmp capital advisors llc, ceo, chapter 11 bankruptcy, clothing lines, economy, Eddie Bauer, first quarter, good company, neil fiske, outdoor clothing, retailer, term debt
Eddie Bauer, known for their outdoor clothing lines, has filed for Chapter 11 bankruptcy last Wednesday, as the mall retailer was said to have been struggling with its sales. The company for this year’s first quarter, lost some 16% on profit, which isn’t enough to support its 371 stores across America.
CCMP Capital Advisors LLC is reportedly making a bid for its assets to the tune of $202 Million and has said to continue to operate Eddie Bauer with no long term debt. This has yet to be confirmed by CCMP.
According to Eddie Bauer’s CEO, Neil Fiske:
“Eddie Bauer is a good company with a great brand and a bad balance sheet. This process will allow the business to emerge with far less debt, positioned for growth as the economy recovers and as our new products gain traction.”
More on the story here.
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Tags: assets, balance sheet, bankruptcy, ccmp capital advisors, ccmp capital advisors llc, ceo, chapter 11 bankruptcy, clothing lines, economy, Eddie Bauer, first quarter, good company, neil fiske, outdoor clothing, retailer, term debt
