Auditors: Eddie Bauer in Trouble

Discussion
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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