Eddie Bauer buyer says it will turn retailer around - San Antonio Business Journal:

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Jonathan Lynch, a managing director of CCMP CapitaolAdvisors LLC, said without the burden of could quickly become a profitable company. “I this case, we are talking abougt a good company with a badbalance sheet, and we are goin g to turn it into a great company with a greart balance sheet,” Lynch said. Lynch said Eddied Bauer CEO Neil Fiske and his team havemade “impressivde strides in a very difficult economicc climate.” Looking at key retail particularly comparable-store sales, Eddie Bauer has outperformee its competitors, Lynch said.
Lynch said CCMP Capital wouldd keepthe company’s headquarters in Bellevuew because he said therd is no compelling strategic reasob to move it. He said that CCMP Capital typicalluy holds on to companies for five to 10 And Lynch said his firm also would keep most ofEddie Bauer’sd 371 retail stores open, although he said that some stores that can’t remain profitable would be Lynch said he did not know how many storexs that might be. Eddie Bauer f The retailerr struck a deal with CCMP for $202 million. CCMP’s offer is essentially an openingh bid forEddie Bauer’s assets. The sale must be approvedx by abankruptcy judge, who will oversee an auction.
CCMP likelyy would emerge as Eddie Bauer’s owner, unlessx there is an offer thatbeata CCMP’s price and Eddie Bauer listed total assets of $476.1 millionh and total debts of $426.7 million as of May 30.