The Spiegel Group to shutter 60 Eddie Bauer stores
April 29, 2003-- Home Textiles Today,
Downers Grove, IL — The Speigel Group said it will shed 60 of its 529 Eddie Bauer stores, including eight home stores, pending approval of a bankruptcy court.
Eddie Bauer Home's sales in 2001 were $172 million, making it the 20th largest seller of home textiles on last year's HTT Top 50 list. Those sales included stores, catalog and Internet.
The company currently operates 45 home stores. Also slated for closure is one of Eddie Bauer's 102 outlet stores.
Home stores slated for closure include San Francisco, Westport, CT; Skokie, Il; Paramus, NJ; West Nyack, NY; Beachwood, OH; Columbus, OH; and Germantown, TN.
"We are taking tough but necessary steps to position Eddie Bauer for future success," said Fabian Mansson, president and ceo, Eddie Bauer.
This is the second wave of store cuts announced since Spiegel filed Chapter 11 on April 17. The company previously announced it would close all 21 of its Spiegel and Newport News outlet and clearance stores.
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