EBHI Filing for Chapter 11

[Mendy]

Eddie Bauer confirms filing for Chapter 11 bankruptcy protection
Eddie Bauer Holdings announced that it has voluntarily initiated proceedings under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court in Delaware and under the Companies' Creditors Arrangement Act, or CCAA, in Canada in the Ontario Superior Court of Justice, and is pursuing a sale process under Section 363 of the Bankruptcy Code and under the CCAA. The Company has entered into an asset purchase agreement with an affiliate of CCMP Capital Advisors, LLC to buy the Company's assets through a bankruptcy process, subject to an auction and Bankruptcy Court approval, for $202M in cash, with working capital and similar adjustments. CCMP Capital, a global private equity firm with significant experience in the retail and consumer sectors, intends to operate the business as a going concern with little or no long-term debt.