Everybody's favorite local outdoor apparel chain--or at least the favorite local outdoor apparel chain of Ford Explorers and famous dis tracks--is on the auction block today. Bidding started mid-morning, New York time, but is expected to go all day. The minimum you'll need to pay to fork over to win is $202,000,000.01, as New York equity group CCMP has put down a bid of an even $202 mil.
Go for it, Howard. But it'll take more than Eddie Bauer to pay your debt.
Depending on how the bidding goes, the buyer could be a savior, as several liquidators are reportedly eyeing the franchise. The company says that it might sell to a lower bidder who will keep stores open if the top bidder is a liquidator looking to shut the operation down. Perhaps Howard Schultz will see a first step towards penance.