Auditors: Eddie Bauer in Trouble
By George Anderson
Company auditors have “substantial doubts” about Eddie Bauer’s ability to continue doing business, says a report in the Seattle Post-Intelligencer.
The retail chain, part of The Spiegel Group, has debts exceeding $1 billion and same-store sales fell 12 percent last year. It announced last February that it was not meeting its loan agreements and was attempting to restructure its loans.
Moderator’s Comment: How can Eddie Bauer keep its employees
focused on the tasks at hand with the company’s own auditors expressing doubts
about its ability to keep operating? [George
Anderson – Moderator]