Eddie Bauer attracts several suitors
12/06/2009
Media on both sides of the Atlantic have reported that buyers are likely to come forward quickly for sports and outdoor apparel brand Eddie Bauer if, as expected, the company files for bankruptcy protection in the next few weeks.
Eddie Bauer currently has 370 stores and 10,000 employees across North America, but has been consistently reporting falling sales in recent months. First quarter revenue fell 16% to $179.8 million and the company is reported to have more than $300 million in outstanding debt.
However, private equity and capital investment firms in New York are rumoured to be preparing bids to buy the company if the bankruptcy protection filing goes through.
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