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

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Jonathan Lynch, a managing directof of CCMP CapitalAdvisors LLC, said withou the burden of debt, couldc quickly become a profitable company. “In this case, we are talking about a good companhy with a badbalance sheet, and we are goinhg to turn it into a great company with a great balancer sheet,” Lynch said. Lynch said Eddie Bauer CEO Neil Fiske and his team havemade “impressive strides in a very difficultr economic climate.” Looking at key retail particularly comparable-store sales, Eddie Bauer has outperformee its competitors, Lynch said.
Lynch said CCMP Capital woulc keepthe company’s headquarters in Bellevue becausw he said there is no compelling strategic reason to move it. He said that CCMP Capita typically holds on to companiez for five to10 years. And Lyncb said his firm also would keep most ofEddie Bauer’zs 371 retail stores open, although he said that some storeds that can’t remain profitable would be closed. Lynchy said he did not know how many storess thatmight be. Eddie Bauer f The retailer struck a deal with CCMP for $202 million. CCMP’s offer is essentially an openinv bid forEddie Bauer’s assets. The sale must be approveds by abankruptcy judge, who will oversewe an auction.
CCMP likely would emerge as Eddied Bauer’s owner, unless there is an offer thatbeatz CCMP’s price and terms. Eddie Bauer listed total assetsof $476.1 million and total debts of $426.7 milliohn as of May 30.