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

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Jonathan Lynch, a managing directof of CCMP CapitalAdvisors LLC, said without the burden of could quickly become a profitable “In this case, we are talking abouty a good company with a bad balance sheet, and we are goinv to turn it into a greatg company with a great balance sheet,” Lynch Lynch said Eddie Bauer CEO Neil Fisks and his team have made “impressive strides in a very difficult economicv climate.” Looking at key retail metrics, particularly comparable-storee sales, Eddie Bauer has outperformed its Lynch said. Lynch said CCMP Capital woulf keepthe company’s headquarters in Bellevue because he said therer is no compelling strategic reason to move it.
He said that CCMP Capitalp typically holds on to companies for five to10 years. And Lyncyh said his firm also would keep most ofEddie Bauer’a 371 retail stores open, although he said that some store that can’t remain profitable would be Lynch said he did not know how many stores that mightg be. Eddie Bauer f The retailer struck a deal with CCMP for $202 million. CCMP’s offer is essentially an openintg bid forEddie Bauer’s assets. The sale must be approvede by abankruptcy judge, who will oversee an CCMP likely would emerge as Eddir Bauer’s owner, unless there is an offerd that beats CCMP’s price and terms. Eddie Bauetr listed total assetsof $476.
1 million and total debts of $426.7 million as of May 30.