87
Fashion Jobs
ESTÉE LAUDER COMPANIES
Customer Supply Chain Manager
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ABBOTT
Snr Regulatory Affairs Portfolio Manager
Permanent · JOHANNESBURG
AVON
Supply Planner
Permanent · JOHANNESBURG
AVON
Supply Planner
Permanent · JOHANNESBURG
ADIDAS
Senior Manager Digital Activation - em South
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Customer Supply Chain Manager
Permanent · JOHANNESBURG
BEIERSDORF
Senior Brand Manager, Eucerin
Permanent · DURBAN
ABBOTT
Demand Planner
Permanent · JOHANNESBURG
ABBOTT
Enterprise Solution Director Africa
Permanent · JOHANNESBURG
ABBOTT
Finance Controller – Ani South Africa
Permanent · JOHANNESBURG
ABBOTT
Brand Manager
Permanent · JOHANNESBURG
PROCTER&GAMBLE
Hybrid Sales Representative - Western Cape South Coast
Permanent · SANDTON
PROCTER&GAMBLE
Retail Sales Representative - Kzn South
Permanent · SANDTON
PROCTER&GAMBLE
Site Security Manager
Permanent · JOHANNESBURG
PROCTER&GAMBLE
Regulatory Affairs Associate Scientist
Permanent · SANDTON
PROCTER&GAMBLE
Senior Manager - Media Buyer
Permanent · SANDTON
PROCTER&GAMBLE
Hybrid Sales Representative - Eastern Cape
Permanent · SANDTON
PROCTER&GAMBLE
Senior Sales Manager
Permanent · SANDTON
PROCTER&GAMBLE
Purchasing Manager
Permanent · SANDTON
PROCTER&GAMBLE
Finance Manager
Permanent · SANDTON
By
Reuters
Published
Jul 15, 2009
Reading time
2 minutes
Download
Download the article
Print
Text size

VF Corp "party of interest" in Eddie Bauer bidding

By
Reuters
Published
Jul 15, 2009

SAN FRANCISCO, July 14 (Reuters) - Apparel maker VF Corp (VFC.N) is a "party of interest" in the auction for the assets of bankrupt retailer Eddie Bauer Holdings Inc (EBHIQ.PK), according to a court document.

VF Corp, Eddie Bauer
Lee, a VF Corp brand

Eddie Bauer, an outdoor apparel chain that filed for Chapter 11 protection last month, has about 370 stores in North America and about 10,000 employees worldwide.

VF, an apparel powerhouse whose outdoor brands include such names as North Face, Reef and Kipling, has asked the U.S. Bankruptcy Court in Delaware to send it all notices in the case, saying it is a "party in interest," according to court documents filed on Monday 13 July.

A VF spokeswoman declined to comment on whether the company is interested in bidding for the assets.

Others that have also requested all notices in the case include creditors such as suppliers, lenders and landlords, and investment firms such as Monarch Alternative Capital LP.

On Monday 13 July, Bloomberg reported that Iconix Brand Group Inc (ICON.O), which owns a host of fashion brands, and Golden Gate Capital, a private equity group, might also bid on the company, citing sources with knowledge of the proceedings.

An auction is scheduled for July 16.

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.

VF's "party of interest" status does not necessarily mean the company plans to bid. A company may want to be kept apprised of an auction, especially if the bankrupt company owes money, or has the potential to be snatched up by a rival.

Still, VF has been on an acquisition streak in recent years.

Last month, VF Chief Executive Eric Wiseman told Reuters he was having many discussions over potential targets as the weak economy provided buying opportunities. He listed the outdoor sector as an area of interest.

Wiseman said then the group had the financial firepower to do "a reasonably large" deal, adding the company will have $600 million in cash and $1.3 billion in accessed funds by the end of the year.

The case is In re: Eddie Bauer Holdings Inc, U.S. Bankruptcy Court, District of Delaware, no. 09-12099.

(Reporting by Alexandria Sage in San Francisco and Phil Wahba and Martinne Geller in New York; Editing by David Gregorio)

© Thomson Reuters 2024 All rights reserved.