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Article: Spiegel Group hopes to sell Eddie Bauer chain
- Article from:
- Telegraph - Herald (Dubuque)
- Article date:
- April 7, 2004
- Author:
CopyrightCopyright 2004 Telegraph - Herald (Dubuque). Provided by ProQuest LLC. (Hide copyright information)
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CHICAGO (AP) - The Spiegel Group is looking for a buyer for its
Eddie Bauer business after German billionaire Michael Otto, whose
family owns 89 percent of Spiegel's shares, could not reach a deal
with creditors to retain control of the company, a Spiegel
spokeswoman said Tuesday.
Debbie Koopman, spokeswoman for the Downers Grove, Ill.-based
apparel and home furnishings retailer, also said it has a buyer for
its Newport News Inc. unit and is in preliminary talks to sell the
third unit, Spiegel Catalog.
The Spiegel Group filed for Chapter 11 protection in March 2003.
Eddie Bauer is the most valuable of the company's three units.
With 440 stores, catalogs and online sales, the clothing and ...