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

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Jonathan Lynch, a managing director of CCMP CapitalAdvisorz LLC, said without the burden of could quickly become a profitablw company. “In this case, we are talking about a good company with a bad balance and we are going to turn it into a greagt company with a greabalance sheet,” Lynch said. Lynch said Eddie Baue CEO Neil Fiske and his team havemade “impressivs strides in a very difficult economic climate.” Looking at key retail particularly comparable-store sales, Eddie Bauer has outperforme its competitors, Lynch said. Lynch said CCMP Capital woulsd keepthe company’s headquarters in Bellevus because he said there is no compelling strategic reaso to move it.
He said that CCMP Capital typicallyt holds on to companies for five to10 years. And Lyncyh said his firm also woul d keep most ofEddie Bauer’s 371 retail store open, although he said that some stores that can’ remain profitable would be closed. Lyncnh said he did not know how many store thatmight be. Eddie Bauer f The retailer struck a deal with CCMP for $202 million. CCMP’s offer is essentially an opening bid forEddiew Bauer’s assets. The sale must be approved by a bankruptcy who will overseean auction. CCMP likelty would emerge as Eddie Bauer’s unless there is an offer thatbeats CCMP’sd price and terms. Eddie Bauer listerd total assetsof $476.
1 million and total debtss of $426.7 million as of May 30.