FINANCE

Eddie Bauer gets court approval to continue operations

BY CSA STAFF

Seattle A bankruptcy judge said Thursday that Eddie Bauer Holdings can pay employee wages and vendors to keep the retailer operating as it has been. The chain filed for Chapter 11 protection on Wednesday.

U.S. Bankruptcy Judge Mary Walrath of the District of Delaware also gave interim approval of $90 million in loans to fund operations during the bankruptcy procedure. Final approval is still needed for the so-called debtor-in-possession financing. Walrath also gave the company permission to continue to honor gift cards.

As it filed for court protection, Eddie Bauer Holdings said that private equity firm CCMP Capital Advisors LLC had bid $202 million in cash to buy the business. However, the court will ultimately conduct a bankruptcy auction in which other bidders can submit competing offers. CCMP has said it would keep open most of Eddie Bauer’s 371 stores and retain the majority of the employees.

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Ross Stores to sponsor Boys & Girls Club homework program

BY CSA STAFF

PLEASANTON, Calif. Ross Stores announced its national sponsorship of Boys & Girls Clubs of America’s (BGCA) Power Hour, an interactive after-school homework assistance program for members, ages six to 18.

As a part of this partnership, Ross Stores will underwrite the implementation of Power Hour at certain Boys & Girls Clubs across the country. Additionally, Ross Stores will support local Clubs at select Ross Dress for Less and dd’s DISCOUNTS grand opening events, and encourage associate volunteerism at Clubs.

“Ross is committed to supporting the families in the neighborhoods we serve,” said Jane Marvin, SVP human resources of Ross Stores. “Through the Power Hour program, youth can develop the study skills and homework habits they need to excel academically and graduate from high school.”

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Whole Foods launches recipe app

BY CSA STAFF

AUSTIN, Texas Whole Foods Market has launched a new application for the iPhone and iPod touch that allows users to access more than 2,000 recipes.

Searchable by ingredient, special diets, and other elements like “budget” and “family friendly,” each recipe contains detailed preparation instructions and nutritional information, which can be copied and pasted, saved as a personal “favorite,” and emailed from within the App itself. The App also includes an “On Hand” feature where customers can enter ingredients and get back meal recommendations.

 

“We’re delighted to provide iPhone and iPod touch users with yet another way to explore their passion for food and health,” said Bill Tolany, global coordinator of integrated media for Whole Foods Market. “We’re particularly excited about the On Hand feature as a way to answer the ever so popular ‘What’s for dinner?’ question.”

 

Built with the new iPhone OS 3.0 software, the app also comes with a store locator, where customers use a ZIP code search or the iPhone’s built-in location finder to view in-app maps and identify their nearest Whole Foods Market. Each store page contains operating hours, phone and address, and links to maps, directionsand even store specials.

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