Outdoors apparel retailer Eddie Bauer has been sold to Golden Gate Capital for the grand sum of $286 million at auction. Golden Gate Capital plans to keep the majority of Eddie Bauer’s 370 stores across the country open, allowing cash-strapped Eddie Bauer to continue to operate despite its massive bankruptcy and other struggles.
 
The auction lasted two days, beginning Thursday morning and ending 2:30 a.m. this morning. Eddie Bauer’s sale marks its dramatic reversal from before the economic recession, where the company enjoyed $1 billion in annual revenue and employed 10,000 employees, to its current $427 million bankruptcy filing due to …read more

Eddie Bauer, a clothing store chain with approximately 9,500 employees around the world, has filed for bankruptcy. The Wall Street Journal is reporting that the company will be purchased by CCMP Capital Advisors.
According to court documents, Eddie Bauer has more than $425 million in debt. In the Chapter 11 bankruptcy protection, the company will likely try to slim down in attempt to survive these rough global economic times.
Founded in 1920 and currently headquartered in Bellevue, Washington, Eddie Bauer has stores in multiple countries including the United States, Japan, Germany and Canada.
Eddie Bauer going bankrupt is far from surprising. Reports indicate …read more