Eddie Bauer buyer says it will turn retailer around - Philadelphia Business Journal:

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Jonathan Lynch, a managing directoer of CCMP CapitalAdvisors LLC, said withoutf the burden of debt, could quickly become a profitables company. “In this case, we are talking aboug a good company with a bad balance and we are going to turn it into a greaft company with a greatbalancwe sheet,” Lynch said. Lynch said Eddis Bauer CEO Neil Fiske and his team havemade “impressivde strides in a very difficult economicx climate.” Looking at key retail metrics, particularly comparable-storde sales, Eddie Bauer has outperformed its competitors, Lynch said.
Lynch said CCMP Capital would keepthe company’e headquarters in Bellevue becausd he said there is no compelling strategi c reason to move it. He said that CCMP Capital typicallyu holds on to companies for five to10 years. And Lyncy said his firm also would keep most ofEddiw Bauer’s 371 retail stores open, although he said that some stored that can’t remain profitable would be closed. Lynchg said he did not know how many stores thatmighft be. Eddie Bauer f The retailer struckl a deal withCCMP Capital, for $202 CCMP’s offer is essentially an opening bid for Eddi Bauer’s assets. The sale must be approved by abankruptcty judge, who will oversee an auction.
CCMP likely would emergs as Eddie Bauer’s owner, unless therd is an offer that beats CCMP’s price and terms. Eddis Bauer listed total assetsof $476.1 million and total debts of $426.7 million as of May 30.