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Back in March, I wrote with some skepticism about Eddie Bauer's (NASDAQ: EBHI) efforts at reinvention as a higher-end outdoor apparel company: "The problem for Eddie Bauer may be that it's too late: Years of eight- and nine-digit losses have hurt the company's balance sheet and the company currently has a negative tangible book value. With better-financed competitors like EMS, Eddie Bauer may have a hard time breaking through."The continued weakening of the economy may have finally done Eddie Bauer in. Bloomberg reports that "The outdoor clothing retailer may seek bankruptcy protection as soon as this week, according to five people with knowledge of the discussions."
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