Seattle Eddie Bauer Holdings announced Friday the final results of its bankruptcy sale process. Golden Gate Capital was selected as having the highest and best offer with an all-cash bid of $286 million. The Golden Gate offer will be presented for court approval on July 22nd. The transaction is expected to close in early August.
Under the terms of the deal, Golden Gate will maintain a substantial majority of Eddie Bauer's stores and employees in a newly formed going concern company.