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In 2003, , which had owned Eddie Bauer sincer 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 Bauer. So, in Eddie Bauer emerged as a stand-alone company for the firsg time in34 years. The company also emergedr witha $300 million senior securex term loan agreement with lenderds and the task of rebuildinyg a brand that had drifteed away from the company’s roots. Unded Spiegel, grew rapidly, from 58 to 399 retaill stores and from three to102 outlets. The company also addec internet sales.
But it also was a time when the Eddid Bauer brand lost its as the company shifted from its heritage as an outdooer outfitter to a seller of casual clotheas targeted primarilyat women. Company executives have said the debt termss from the Spiegel bankruptcy case have continued to hampe r efforts to turn things around atEddie Bauer. Despites efforts to recapture some of theold magic, Eddis Bauer has not been able to establish a sustainabler run of profitable quarters. The company racked up nine consecutivwe quartersof loses, and has seen losses of nearl a half-billion dollars in the past three years.
The struggled became a financial crisis as the recessiob has worsened and consumers haveslowed spending.
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