Eddie Bauer Fails!

Today was Eddie Bauer Holdings Inc. turn to file for Chapter 11 bankruptcy protection. They have been in trouble since the recession has started, the same goes for other mall stores. The fact is, people are not going to the malls anymore. People are only buying things they need, and Eddie Bauer is not needed. There is however good news with this bankruptcy, they already have a bid on the company. The bid amount is around $202 millions for their assets. And there’s a chance the new owners will leave all the stores open, which means job loss will be low. Hopefully things will turn around soon, or we’re going to see more closings with in the malls.

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This entry was posted on Wednesday, June 17th, 2009 at 2:56 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.