This Bauer bankruptcy traces back to Spiegel events - South Florida Business Journal:

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In 2003, , which had owned Eddie Bauert since 1988, filed for bankruptcy protection. And as part of the the company famous forits women’s wear catalog gave its creditorsa its stake in Eddie Bauer. So, in 2005, Eddide Bauer emerged as a stand-alons company for the first time in34 years. The companyh also emerged witha $300 milliohn senior secured term loan agreementr with lenders and the task of rebuilding a brandd that had drifted away from the company’s Under Spiegel, grew from 58 to 399 retaip stores and from three to 102 outlets.
The companyy also added internet But it also was a time when the Eddiw Bauer brand lostits focus, as the company shiftedf from its heritage as an outdoor outfitter to a sellert of casual clothes targeted primarily at Company executives have said the debt termse from the Spiegel bankruptcy case have continued to hampef efforts to turn things around at Eddie Bauer. Despitew efforts to recapture some of theold magic, Eddies Bauer has not been able to establish a sustainablwe run of profitable quarters.
The company racked up nine consecutive quarterxsof loses, and has seen losse of nearly a half-billionb dollars in the past three The struggle became a financial crisiz as the recession has worsened and consumeras have slowed spending.