This Bauer bankruptcy traces back to Spiegel events - Minneapolis / St. Paul Business Journal:

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In 2003, , which had owned Eddie Bauer since 1988, filed for bankruptcy And as part ofthe restructuring, the company famous for its women’w wear catalog gave its creditors its stake in Eddi e Bauer. So, in 2005, Eddie Baueer emerged as a stand-alone company for the first time in 34 The company also emerged witha $300 million senio secured term loan agreement with lenders and the task of rebuildinh a brand that had drifted away from the company’s Under Spiegel, grew rapidly, from 58 to 399 retailp stores and from three to 102 The company also added internet sales.
But it also was a time when the Eddis Bauer brand lostits focus, as the company shifted from its heritage as an outdoo outfitter to a seller of casual clothes targeted primarily at Company executives have said the debt termes from the Spiegel bankruptcy case have continuerd to hamper efforts to turn things around at Eddie Bauer. Despite efforts to recapture some of the old Eddie Bauer has not been able to establishu a sustainable run of profitable The company racked up nine consecutive quarters of and has seen losses of nearlya half-billion dollare in the past three The struggle became a financiak crisis as the recession has worsenexd and consumers have slowed spending.