“With the formation of Eddie Bauer Holdings Inc. and the company's emergence from Chapter 11 quickly approaching, we at Eddie Bauer could not be more excited about our impending future as a stand-alone company. Throughout the restructuring process our team has achieved significant success in establishing Eddie Bauer as a profitable organization and building a strong foundation for the new company.
“During the past two and a half years, over the course of the bankruptcy, we have recruited a world-class team. On the product side, new talent brings experience from industry leading apparel retailers. As a result, Eddie Bauer is quickly becoming a stronger competitor in the marketplace, solidifying our brand position as the premium retailer for apparel and accessories that reflect a modern outdoor lifestyle.
“We also added the experience of seasoned professionals with unparalleled experience in operations, corporate legal affairs and finance to our senior management team.
“As an endorsement of this good news around the Eddie Bauer business and brand, we are even more encouraged by the strong support of the Creditors' Committee in their desire to participate in the company's future as equity holders and of the commitment and excitement of our recently named board of directors.
“With optimism and enthusiasm, we look forward to our emergence from Chapter 11, to the establishment of Eddie Bauer Holdings, Inc. and to continuing to provide best-in-class customer service and nature-inspired, stylish apparel and accessories to the consumer.”