Specialty retailer exploring options

Eddie Bauer LLC could be for sale.



The retailer has hired investment banks Guggenheim Partners LLC and Financo LLC to explore strategic alternatives, including a potential sale, Reuters reported. The debt-laden company is seeking relief from a $225 million term loan due in 2020 and $200 million revolving credit line that comes due in 2019, the report said.



Eddie Bauer currently operates some 370 stores in the United States and Canada. The company was acquired out of bankruptcy in 2009, by Golden Gate Capital in 2009.



During the past 12 months to April 1, Eddie Bauer has experienced revenue declines and lower gross margins, according to Moody's Investors Service Inc.