Eddie Bauer files for bankruptcy protection

[Newsjock]

Source: Associated Press

Struggling mall retailer Eddie Bauer Holdings Inc. filed for Chapter 11 bankruptcy protection on Wednesday but said a bidder already has agreed to keep the majority of its 371 stores open, honor gift cards and hold onto most employees.

Eddie Bauer, known for outdoorsy clothing, said CCMP Capital Advisors LLC has bid $202 million in cash for its assets. Other buyers may also make bids while the company is under court protection.

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 as sales fell 16 percent to $179.8 million.

... Eddie Bauer was founded in 1920 in Seattle. The clothing retailer was bought by General Mills Inc. in 1971 and then by Spiegel Inc. in 1988. After Spiegel filed for Chapter 11 bankruptcy protection in 2003 and most of its assets were sold, the remainder was reorganized in 2005 as Eddie Bauer Holdings Inc.


Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/06/17/financial/f103245D72.DTL

[kestrel91316]

1. Wow, color me surprised. Another former retailer of sensible,

useful clothing run into the ground by people wanting to make it an uber-trendy retailer for hipster teens.

[LostinVA]

2. That's because they went away too much from the outdoors stuff, I bet

My Dad knows people there -- I'll ask him.

[Seedersandleechers]

3. I find their clothes

over priced, but their sales affordable.

[blue_onyx]

4. Not surprsing

Personally, I haven't been to an Eddie Bauer in years. I almost purchased some clothing from the website around Christmas. They had a "free shipping" promotion so I thought I would save myself a trip to the store. Then they tried to charge me for handling. I don't think I've had a store charge me for shipping and handling separately. I was annoyed so I went to Kohls instead.

[snappyturtle]

5. This makes me sad. I loved EB in the 70's and 80's. nt

[RedCloud]

12. Banana republic was cool then too!

I still have some goods that have lasted. For decades!

[snappyturtle]

17. Yes! You're right. I forgot about BR! nt

[LeftistGorilla]

6. Great clothes....

Too expensive....

[HopeHoops]

7. I've never even considered shopping there.

I don't need expensive crap - I need functional crap at an affordable price and "Made in USA" is on the majority of my clothing - although some of it does date back a few decades. You can still find it - K-Mart is the best place to look, but Target carries some also. I defy anyone to find any piece of US made clothing in WalMart. For that matter, find anything US made at ALL in WalMart!

My most recent and wonderful find were US made nylon spatulas at K-Mart that were EXACTLY like the 35-year old one I so loved and almost cried over when the handle snapped. They are $.88 and only come in black or white, but they are perfect! The 35-year old one was that 70's pink they used. Okay, it was ugly, but it worked. I bought a bunch of them - I have three daughters.

[sarcasmo]

10. Where do you find made in the USA clothing in stores? I look for that first, my shoes are one of the

few pair that New Balance still makes in the States. Finding Tee shirts well that's another story.

[HopeHoops]

11. All I wear are US made New Balance - K-Mart carries a lot of US made shirts

I've found them at Target also, but it isn't as easy.

The REALLY sad thing is that in the early 80's, WalMart was all about "Union Made" and "Buy American". Now they are all about "CHINA R US" and "FUCK UNIONS". Sam must be spinning in his grave.

Sears has a lot of US made clothing too. I've also found it in Kohl's. The prices aren't different. You can also find a lot of US made plastic ware if you look for it - things like storage tubs and milk crates and food storage containers. Curiously, one of the BEST places to find US made plastic products is Dollar Tree - and that started out as an "all China" store. It isn't anymore. Same with glass products. Indiana Glass Company uses Dollar Tree for their "not quite up to standard" outlet. Okay, so the glass is a little warped - fuck it. I just want something to drink out of.

[sarcasmo]

13. Thanks for the Kmart tip. I found a company in Hawaii that makes sandals but hard to try them on

When you don't live in Hawaii.

[No Elephants]

15. At least two companies in Hawaii make sandals. I've only tried the one, but

these were, bar none, the most comfortable thing I've ever walked in--more comfortable than walking in slippers or in bare feet. Lasted for years, too. And the price shown here is about the same as it was 20 years ago.

http://www.footsmart.com/P-Island-Hawaii-Womens-Lana-Slide-Sandal-72144.aspx

And they run true to size. In fact, think I'll order a ccuple of pairs right now.

[No Elephants]

16. They should have asked Michelle Obama or the Obama kids to wear their clothes.

[undeterred]

8. They should change to outdoorsy clothing for homeless people.

That would be meeting the economic slump head on.

[liberal N proud]

9. I always liked their outdoor clothing

I only could purchase the stuff on sale though.

They became too up scale.

[Kolesar]

14. Eddie Bauer is my favorite

They make rugged products. I didn't like their baggy pants era, though. I emailed them about it and they went back to a normal cut.