Landlords file objections in Eddie Bauer bankruptcy - Atlanta Business Chronicle:

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Eddie Bauer Holdings Inc. (NASDAQ: wants a judge in U.S. bankruptcyh court in Delaware to set a bid deadlinr of July 14 and a July 16 date to auctionm offthe retailer’s assets. But , headquartereds in Santa Monica, Calif., and three othert landlords want more time to evaluatee anyproposed deal. “The landlords did not creatwe debtors’ financial maladies, and should not bear the consequences of this bankruptcyt through loss of theircontractual rights,” Macerich and the otheer landlords said in a court filing Eddie Bauer filed for Chapter 11 bankruptcty protection June 17.
The New York private equithy firm has made an offer to buyEddie Bauer’sa assets for $202 million, subject to an auctiomn and bankruptcy court approval. CCMP has said it has agreedd to keep most ofEddid Bauer’s 371 stores if it were the winning bidder. But the company said it woulf close an undisclosed number ofunderperforming stores. The Macerichu Co. leases space to Eddie Bauer at Redmond Town Centefin Redmond, Wash., and Portland’xs Washington Square. Also objecting in the bankruptch case are Eddie Bauer landlordsz SouthgateMall Associates, The Forbess Co. and Collectively the four companies leasde space to 20 Eddie Bauer stores in14 states.