Spiegel to Focus on Its Eddie Bauer Division
Spiegel Inc. said it planned to reorganize around its profitable Eddie Bauer division and form a new parent company, Eddie Bauer Holdings Inc.
Spiegel, which had previously tried to sell Eddie Bauer, said it would close all 34 of its Eddie Bauer Home stores in the second half of 2005. It said it had filed its proposed reorganization plan in U.S. Bankruptcy Court in New York to move it a step closer to completing its restructuring.
Spiegel said Eddie Bauer would continue to sell outdoor-inspired clothes, gear and home furnishings through its 418 stores, catalogs and the Internet. It will be headquartered in Redmond, Wash.
Downers Grove, Ill.-based Spiegel filed for Chapter 11 in March 2003.
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