Golden Gate Capital has emerged as the leading bidder for Eddie Bauer during a bankruptcy auction this week, with an all-cash bid for $286 million. The Golden Gate offer will be presented for court approval on July 22 and, if it is accepted, the transaction is expected to close in early August. Eddie Bauer voluntarily entered initiated Chapter 11 reorganization proceedings last month. At the time, it entered into an asset purchase agreement with CCMP Capital Advisors LLC for $202 million in cash, which could be superseded by other bids at auction.