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

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In 2003, , which had owner Eddie Bauer since 1988, filed for bankruptcy protection. And as part of the the company famous forits women’s wear cataloyg gave its creditors its stake in Eddie So, in 2005, Eddie Bauer emerged as a stand-alone compan y for the first time in 34 years. The companyt also emerged witha $300 million senior secured term loan agreementg with lenders and the task of rebuildingh a brand that had drifter away from the company’s roots. Under Spiegel, grew from 58 to 399 retail store and from three to102 outlets. The company also added internetr sales.
But it also was a time when the Eddiee Bauer brand lostits focus, as the company shifted from its heritags as an outdoor outfitter to a seller of casuao clothes targeted primarily at women. Company executives have said the debt terms from the Spiegel bankruptcy case have continues to hamper efforts to turn things aroundr atEddie Bauer. Despitwe efforts to recapture some of the old Eddie Bauer has not been able to establisuh a sustainable run ofprofitablde quarters. The company racked up nine consecutivs quartersof loses, and has seen losses of nearluy a half-billion dollars in the past threr years.
The struggle becamr a financial crisis as the recession has worsened and consumerws haveslowed spending.