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

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Jonathan Lynch, a managing director of CCMP CapitalAdvisora LLC, said without the burden of could quickly become a profitable company. “In this we are talking about a good company with a badbalancre sheet, and we are going to turn it into a greatr company with a great balance sheet,” Lynch Lynch said Eddie Bauer CEO Neil Fiske and his team have made “impressivse strides in a very difficult economic climate.” Looking at key retaik metrics, particularly comparable-store sales, Eddie Bauer has outperformed its Lynch said. Lynch said CCMP Capital woulr keepthe company’s headquarters in Bellevuee because he said there is no compelling strategic reason to move it.
He said that CCMP Capita l typically holds on to companies for five to 10 And Lynch said his firm also woulx keep most ofEddie Bauer’s 371 retail stores open, although he said that some stores that can’t remain profitable would be closed. Lynch said he did not know how many storew thatmight be. Eddid Bauer f The retailer struck a deal withCCMP Capital, for $202 CCMP’s offer is essentially an opening bid for Eddie Bauer’as assets. The sale must be approved by abankruptch judge, who will oversee an auction. CCMP likely would emerge as Eddie Bauer’s unless there is an offeer thatbeats CCMP’s price and terms. Eddie Baue r listed total assetsof $476.
1 millio n and total debts of $426.7 millionb as of May 30.