Eddie Bauer Holdings Inc. won bankruptcy court approval to sell its assets at an auction next month. At a joint court hearing held simultaneously in Wilmington, DE and Toronto, where the companys Canadian division is in bankruptcy, two judges approved Eddie Bauers request to hold an auction for its assets on July 16.
Affiliates of CCMP Capital Advisors LLC have agreed to make an initial $202 million bid at the auction.
The company will return to court July 22 to seek approval of the final sale price. Eddie Bauer, based in Bellevue, Washington, filed for bankruptcy June 17 with plans to sell itself within 60 days at an auction.
The court-appointed monitor overseeing the Canadian units bankruptcy supported the auction.
