Bankrupt Spiegel puts Eddie Bauer up for sale | Seattle Times

[Ediacara]

Bankrupt Spiegel puts Eddie Bauer up for sale

By Jake Batsell
Seattle Times business reporter


TOM REESE / THE SEATTLE TIMES
The bankrupt parent of Redmond-based Eddie Bauer is looking for
a buyer for the chain. It would be the fourth ownership change in
as many decades for the retailer, which recently opened this store
in Seattle's Pacific Place.

Eddie Bauer's bankrupt parent company, Spiegel Group, is selling the legendary Northwest retailer, a move that could bring the Redmond-based company its fourth owner in as many decades.

The move had been expected since Spiegel filed for Chapter 11 bankruptcy protection in March 2003. The Downers Grove, Ill., company, which owes creditors $1.5 billion, also reached a deal to sell its Newport News division women's clothing division and is talking with a potential buyer for its Spiegel catalog.

Eddie Bauer has struggled in recent years as it changed apparel offerings; it has closed about 100 stores in the past year. Despite a renewed focus on the company's outerwear heritage, sales fell 6 percent last year at stores open at least a year.

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[bobbieinok]

1. isn't Spiegel the subsidiary of a German mail-order company??