Eddie Bauer Exploring Potential Sale
The owners of Eddie Bauer are reportedly exploring a sale of the company. Reuters reported, citing unnamed sources familiar with the matter, that the active outdoor apparel company has hired investment banks Guggenheim Partners and Financo to assist.
Eddie Bauer, which is owned by private equity firm Golden Gate Capital, is seeking relief from a $225 million term loan due in 2020 and a $200 million revolving credit line that comes due in 2019. For the 12 months that ended April 1, revenue was $745 million, down from $810 million for the 12 months that ended July 2, 2016, and from $892 million in 2012, according to Moody’s Investor Services.