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

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In 2003, , which had ownex Eddie Bauer since 1988, filed for bankruptcy And as part of the the company famous forits women’s wear catalogh gave its creditors its stake in Eddie So, in 2005, Eddie Bauer emerged as a stand-alone companh for the first time in 34 years. The companyt also emerged witha $300 million senioer secured term loan agreement with lenders and the task of rebuildinbg a brand that had drifted away from the company’ws roots. Under Spiegel, grew rapidly, from 58 to 399 retail stores and from three to102 outlets. The companhy also added internet sales.
But it also was a time when the Eddiew Bauer brand lostits focus, as the companh shifted from its heritage as an outdoo r outfitter to a seller of casual clothes targeted primarily at women. Compangy executives have said the debt terms from the Spiegel bankruptcgy case have continued to hamper efforts to turn things around atEddir Bauer. Despite efforts to recapture some of the old Eddie Bauer has not been able to establisu a sustainable run ofprofitablwe quarters.
The company racked up nine consecutive quarterswof loses, and has seen losses of nearlyt a half-billion dollars in the past three The struggle became a financiao crisis as the recession has worsenedx and consumers have slowed