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Article: The Spiegel Group Announces Plan to Close 60 Eddie Bauer Stores; Stores to remain open pending Bankruptcy Court approval and completion of store-closing inventory sales.
- Article from:
- PR Newswire
- Article date:
- April 28, 2003
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The Spiegel Group (Spiegel, Inc.) today announced its intent to close 60 under-performing Eddie Bauer stores as an integral part of a multi-phase reorganization process. These stores will remain open for business pending approval of the store- closing plan by the Bankruptcy Court and thereafter, on a store-by-store basis, until the related store-closing inventory sales are completed. Spiegel, Inc. expects to file a motion with the Bankruptcy Court today seeking approval of the store-closing plan.
Closing these under-performing stores is expected to improve Eddie Bauer's financial results in fiscal 2003 and going forward. The company will assess inventory ...