Auditors: Eddie Bauer in Trouble

Feb 05, 2003
George Anderson

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

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