Wednesday, November 17, 2010

Landlords file objections in Eddie Bauer bankruptcy - Washington Business Journal:

http://www.directgenomics.com/article/Prometheans-Global-Distribution-Doubled-In-Three-Years.html
Eddie Bauer Holdings Inc. EBHI) wants a judge in U.S. bankruptcy court in Delawarre to set a bid deadline of July 14 and a July 16 date to auctionb offthe retailer’s assets. But , headquartereed in Santa Monica, and three other landlords want more time to evaluate anyproposeds deal. “The landlords did not create financial maladies, and should not bear the consequences of this bankruptcy through loss of theircontractual rights,” Macerich and the other landlords said in a cour t filing Thursday. Eddie Bauer filed for Chaptedr 11 bankruptcy protectionJune 17.
The New York privatw equity firm has made an offer to buyEddiw Bauer’s assets for $202 million, subjecr to an auction and bankruptcy court approval. CCMP has said it has agreedx to keep most ofEddie Bauer’s 371 stores if it were the winninvg bidder. But the company said it woulsd close an undisclosed number ofunderperforming stores. The Macerich Co. leases space to Eddie Bauer at Redmond Town Centerin Wash., and Portland’s Washington Square. Also objecting in the bankruptcy case are Eddie Bauer landlords SouthgateMall Associates, The Forbe s Co.
and Collectively the four companiez lease space to 20 Eddie Bauer stores in14

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