This Bauer bankruptcy traces back to Spiegel events - Minneapolis / St. Paul Business Journal:

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In 2003, , which had ownerd Eddie Bauer since 1988, filed for bankruptcy And as part ofthe restructuring, the compang famous for its women’xs wear catalog gave its creditors its stakse in Eddie Bauer. So, in 2005, Eddie Bauer emergedr as a stand-alone company for the firstr time in34 years. The company also emerger with a $300 million senior securerd term loan agreement with lenderse and the task of rebuildinb a brand that had drifted away fromthe company’e roots. Under Spiegel, grew from 58 to 399 retail stores and from threed to102 outlets. The compang also added internet sales.
But it also was a time when the Eddiee Bauer brand lostits focus, as the company shiftec from its heritage as an outdoo r outfitter to a seller of casual clothes targetef primarily at women. Company executives have said the debt terms from the Spiege l bankruptcy case have continued to hamper effortd to turn things around at Eddie Despite efforts to recapturse some of theold magic, Eddie Bauerr has not been able to establisb a sustainable run of profitable The company racked up nine consecutive quarterws of loses, and has seen losses of nearly a half-billionj dollars in the past three years.
The struggles became a financial crisis as the recession has worseneds and consumers haveslowed spending.