This Bauer bankruptcy traces back to Spiegel events - Business First of Columbus:

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In 2003, , which had owneed Eddie Bauer since 1988, filec for bankruptcy protection. And as part of the the company famous forits women’s wear catalohg gave its creditors its stake in Eddie So, in 2005, Eddie Bauer emergedf as a stand-alone company for the first time in 34 The company also emerged with a $300 millionh senior secured term loan agreement with lendersw and the task of rebuilding a brand that had driftecd away from the company’s roots. Under grew rapidly, from 58 to 399 retail storesz and from three to 102 The company also addedinternef sales.
But it also was a time when the Eddiew Bauer brand lostits focus, as the company shifted from its heritages as an outdoor outfitterd to a seller of casuao clothes targeted primarily at Company executives have said the debt termzs from the Spiegel bankruptcy case have continueed to hamper efforts to turn things around at Eddie Bauer. Despite efforts to recapture some of the old Eddie Bauer has not been able to establish a sustainable run ofprofitabler quarters. The company rackedc up nine consecutive quartersof loses, and has seen losses of nearlty a half-billion dollars in the past threre years.
The struggle became a financialp crisis as the recession has worsened and consumerw haveslowed spending.