USA: Spiegel Gets Reorganisation Plan Extension
Spiegel Inc, the parent company of the Eddie Bauer outdoor clothing chain, has been given two more months to prepare and file its reorganisation plan and an additional two months on top of that to seek approval of the plan from creditors.
Details of how it wants to emerge from its Chapter 11 bankruptcy filing had been due on Tuesday, but a US Bankruptcy Court judge in New York says the company now has until 10 May to file its proposals.
Spiegel operates around 500 Eddie Bauer retail locations and has closed 60 of its underperforming stores, along with distribution and customer service facilities, since filing for bankruptcy protection in March.
It is also selling its women's clothing catalogue company Newport News.
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