Spiegel Inc. will form a board of directors to take charge of Eddie Bauer once the parent firm exits bankruptcy, an Eddie Bauer spokesman said yesterday.
Spiegel will impanel a new board “for the emerging Eddie Bauer,” according to the spokesman, with six independent members and one “inside” member. It is searching for people to serve on the seven-member board.
Spiegel is negotiating terms of a plan to exit bankruptcy and hold onto Eddie Bauer, its only remaining unit.
The retailer made clear its intent to keep the chain after it said last fall that no satisfactory offers were received to buy Eddie Bauer. Since then, a few announcements have been made regarding Eddie Bauer store openings, closings and new personnel.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters