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Liquidators to bid for Eddie Bauer
NEW YORK (Reuters) - A group of liquidators has made a proposal that would close the stores of Eddie Bauer Holdings Inc (EBHIQ.PK), an executive of one of the firms said on Wednesday.
David Peress, chief investment officer of liquidator Hudson Capital Partners, said the other firms involved include Great American Group LLC, SB Capital Group LLC and Tiger Capital Group LLC.
Hudson Capital is also speaking with Iconix Brand Group Inc (ICON.O), which owns and licenses brands including Candie's and Joe Boxer.
"(Iconix) would run an information technology company," Peress said. "They would like to have, if they could, a partner who is operating stores as well. They've been working really hard on trying to get that accomplished."
One analyst sees Iconix as poised for an acquisition.
"Given the recent $150-plus million equity offering, the company is once again aggressively on the acquisition trail," wrote Brean Murray, Carret & Co analyst Eric Beder in a note to clients. "We expect it to complete at least one major acquisition by year-end."
Representatives from Eddie Bauer, Iconix, Great American, Tiger and SB were not immediately available to comment.
"I think that there's a lot of interest in trying to preserve the chain, and this is going to continue to evolve over the next couple of days," said Peress. "We're certainly interested in trying to help somebody who has that vision."
The case is In re: Eddie Bauer Holdings Inc, U.S. Bankruptcy Court, District of Delaware, no. 09-12099.
(Reporting by Chelsea Emery; Writing by Caroline Humer; Editing by Lisa Von Ahn))
