Eddie Bauer Bankruptcy Update - Let the Bidding Begin! - StyleList

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Eddie Bauer Bankruptcy Update - Let the Bidding Begin!

Filed under: Style in the News, News

eddie bauer

Who will be the new owner of this window? Photos: Scott Olsen, Getty Images

Almost a month after Eddie Bauer filed Chapter 11, VF Corp. has identified itself as a "party in interest," according to WWD.

The auction for the bankrupt retailer's assets is being held today (July 16).

Bauer had previously entered into a stalking horse agreement with the Rainier Holdings affiliate of CCMP Capital Advisors LLC, and was to be purchased for $202 million cash.

However, CCMP will be up against the aforementioned VF Corp. as well as Iconix Brand Group Inc., which has an unidentified retail partner, reports WWD. (We're thinking it could be Kohl's, where its Candie's brand is sold exclusively.)

And the list of potential buyers doesn't stop there. Golden Gate Capital has long shown interest, and has snatched up many companies in similar situations.

Liquidation firms Gordon Brothers and Hilco Consumer Capital are reportedly planning a joint bid.

Today's (July 16) auction will give interested parties the opportunity to bid on all of the assets or just a portion. We'll have to wait until the July 22 approval hearing to find out who will take the prize (or a piece of it).

In the meantime, the Eddie Bauer Website has some killer sales, so it might just be time to gear up on, uh, gear.
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