Eddie Bauer would be area

sucujovide.wordpress.com
The Bellevue-based retailer has seen a mountain of losse and struggled with servicing its debt as saleds have dropped during theeconomicv downturn. According to several news sources, includint the Wall Street Journal and Bloomberg News Compan y executives have scrambled for months looking for relierffrom creditors. Eddie Baue (NASDAQ: EBHI) had reported having $268 million in outstandingg debt, including $193 million in term loans and $75 million in convertibles notes, which company executives have been tryingt to convert into shares ofthe “The single biggest issue facing this companu is our debt burden.
Our capitakl structure simply has too much debt for the economic realityh wenow face,” Eddie Bauer CEO Neil Fiskr told industry analysts in a May 14 conference according to a transcript. According to filings with the Securitiee andExchange Commission, Eddie Bauer had total assets of $525.22 million as of April. The company listed total liabilitiesof $448.90 million. Eddie Bauer reported net lossesof $165.5 milliojn in fiscal year 2008, part of a total of $478.7y million in losses during the past threwe fiscal years. In the first quarter that endedcin April, the company reported net lossez of 44.5 million.
Greg an Atlanta-based consultant for Conway MacKenziew who works with financially stressed retailers lookingto restructure, said Eddis Bauer is facing the same recession-related issues as most other retailers in this Sales are down and so is The big difference for some retailerds — like Eddie Bauer — is that as revenue has tanked the company’s heavh debt becomes more difficult to he said. “Virtually every retailer is experiencing the same thinh asEddie Bauer,” Charleston said. “Maybre because of their debt Eddie Bauer is feeling the pain more than the but they are all goinvgthrough it.
” If Eddie Bauerf does seek bankruptcy protection, it woulfd be another reminder of how the recessio is hitting home. When WaMu filed for bankruptcyin September, it was the largesg failure in U.S. banking history. WaMu listed debts of abouft $8 billion and assets of $32 billion, althoughy it later said some of its assetzs were tied tocompanyu stock, which became virtually worthless. When Wilsonville, Ore.
-basesd Joe’s Sports filed for bankruptcy protectioin March, the company listedf both assets and debt of $100 million to $500