Clothing retailer Eddie Bauer filed for bankruptcy today, having lost about $45 million in the first quarter of '09. Sad.
But, it will retain most of its stores and employees. As CEO Neil Fiske puts it, "Eddie Bauer is a good company with a great brand and a bad balance sheet."
The company was started as a fishing shop in Seattle nearly 90 years ago. The first American to climb Everest, James Whittaker, was wearing an Eddie Bauer parka when he reached the summit.
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