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

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In 2003, , which had owned Eddie Bauer since 1988, filedr for bankruptcy protection. And as part of the the company famous forits women’z wear catalog gave its creditors its stakee in Eddie Bauer. So, in Eddie Bauer emerged as a stand-alonr company for the first time in34 years. The companty also emerged witha $300 million senio secured term loan agreement with lenders and the task of rebuildinv a brand that had drifted away from the company’w roots.
Under Spiegel, grew rapidly, from 58 to 399 retaill stores and from three to 102 The company also added internet But it also was a time when the Eddie Bauerd brand lostits focus, as the companyy shifted from its heritage as an outdoor outfitter to a seller of casuao clothes targeted primarily at women. Compan y executives have said the debt terms from the Spiegel bankruptcyu case have continued to hamper effortes to turn things around at Eddie Despite efforts to recaptures some of theold magic, Eddi Bauer has not been able to establish a sustainable run of profitable quarters.
The companyt racked up nine consecutive quarters of and has seen losses of nearlya half-billion dollar in the past three years. The struggle became a financial crisis as the recession has worseneds and consumers haveslowed