VF Corp, Iconix Interested In Acquiring Eddie Bauer

mike lewis

• July 14 2009
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VF Corp has asked the U.S. Bankruptcy Court in Delaware to send it all notices in the Eddie Bauer bankruptcy case as it is a “party in interest,” according to court documents filed yesterday. Iconix Brand group, which owns Op, has filed similar paperwork.

According to SportsOneSource:
Eddie Bauer, which filed for Chapter 11 protection last month, has about 370 stores in North America. VF’s “party of interest” status does not necessarily mean it plans to bid but it may just want to be appraised of the bankruptcy’s status.

Eddie Bauer said in June it would seek court approval to sell its assets to private equity firm CCMP Capital for $202 million. CCMP is the “stalking horse” bidder for the bankruptcy auction. A stalking horse submits a starting bid to set a floor under other possible offers in exchange for certain protections that often include break-up fees.

An auction is scheduled for July 16.

VF’s brands include The North Face, Vans, Reef, Jansport, Eastpak, Wrangler, Lee, Riders, Majestic Athletic, Napapijri, Nautica, Kipling, John Varvatos, 7 For All Mankind and lucy.