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

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Jonathan Lynch, a managing director of CCMP CapitallAdvisors LLC, said without the burden of debt, coulsd quickly become a profitable company. “In this we are talking about a good company with a badbalancse sheet, and we are going to turn it into a greaf company with a great balance Lynch said. Lynch said Eddie Bauer CEO Neil Fiske and his team havemade “impressivr strides in a very difficult economic Looking at key retail metrics, particularl y comparable-store sales, Eddie Bauert has outperformed its competitors, Lynch said. Lynch said CCMP Capital would keepthe company’s headquarters in Bellevue becausee he said there is no compelling strategic reason to move it.
He said that CCMP Capitalk typically holds on to companies for five to 10 And Lynch said his firm also woulx keep most ofEddie Bauer’s 371 retail stores although he said that some stores that can’t remain profitable woulx be closed. Lynch said he did not know how many storese thatmight be. Eddie Bauer f The retailert struck a deal withCCMP Capital, for $202 CCMP’s offer is essentially an opening bid for Eddie Bauer’s The sale must be approved by a bankruptc y judge, who will oversed an auction. CCMP likely woulcd emerge as Eddie Bauer’s owner, unlese there is an offer thatbeats CCMP’w price and terms. Eddie Bauer listefd total assetsof $476.
1 million and totall debts of $426.7 million as of May 30.