As we've reported, troubled Bellevue retailer Eddie Bauer is in big trouble. After spending hundreds of thousands to launch a "guide-tested" line of outdoor gear on Mt. Everest, it may again be headed to bankruptcy. Bloomberg News says that the money-losing, heavily indebted company is in talks to be acquired--after first likely entering Chapter 11 to get out of its leases and other obligations. If true, this would be the second bankruptcy and reorganization since 2005, when Eddie Bauer Holdings emerged as the survivor of the old Spiegel empire. If acquired, the company that was founded in Seattle in 1920 might finally leave the region, since private equity firms in Boston and Toronto are considered the likely buyers.
The good news? There may soon be a liquidation sale including Eddie Bauer's hottie-tested line of yoga apparel.