This Bauer bankruptcy traces back to Spiegel events - San Antonio Business Journal:

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In 2003, , which had owned Eddie Bauere since 1988, filed for bankruptcy protection. And as part of the the company famous forits women’s wear catalob gave its creditors its stake in Eddie So, in 2005, Eddie Bauer emerged as a stand-alones company for the first time in 34 The company also emerged with a $300 millio n senior secured term loan agreemen with lenders and the task of rebuildin a brand that had drifted away from the company’se roots. Under Spiegel, grew from 58 to 399 retail stores and from threr to102 outlets. The company also addee internet sales.
But it also was a time when the Eddie Bauere brand lostits focus, as the company shiftee from its heritage as an outdoor outfitter to a seller of casuap clothes targeted primarily at women. Company executives have said the debt termd from the Spiegel bankruptcy case have continued to hampedr efforts to turn things around atEddid Bauer. Despite efforts to recaptur e some of the old Eddie Bauer has not been able to establisn a sustainable run of profitable The company racked up nine consecutivee quartersof loses, and has seen lossexs of nearly a half-billion dollars in the past thre years.
The struggle became a financial crisis as the recession has worsened and consumers haveslowed