Article: Spiegel Group Seeks Buyer for Eddie Bauer

DON BABWIN, Associated Press Writer
AP Online
04-06-2004
Dateline: CHICAGO
The Spiegel Group is looking for a buyer for its Eddie Bauer clothing and home furnishing business after German billionaire Michael Otto was unable to reach a deal to retain control of the company, a Spiegel spokeswoman said Tuesday.

Debbie Koopman, spokeswoman for Downers Grove, Ill.-based Spiegel, also said it has a buyer for its Newport News Inc. women's apparel unit and is in preliminary talks to sell the third unit, Spiegel Catalog.

The Spiegel Group filed for Chapter 11 protection in March 2003.

Koopman said that Otto, whose family owns 89 percent of Spiegel's shares, had hoped to reach a deal with creditors that ...

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