Golden Gate Capital Wins Eddie Bauer For $286M

Law360, New York (July 17, 2009, 12:11 PM EDT) -- Golden Gate Capital has made the highest and best bid of $286 million in cash in an auction for the assets of bankrupt Eddie Bauer Holdings Inc., the retailer announced Friday.

The offer will be presented to the U.S. Bankruptcy Court for the District of Delaware for approval July 22, and the transaction is expected to close in early August, according to an Eddie Bauer statement.

The offer will also maintain the “substantial majority” of Eddie Bauer stores and employees in a newly formed going concern...
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