Eddie Bauer files for bankruptcy protection

NEW YORK—Eddie Bauer Holdings Inc. is seeking Chapter 11 bankruptcy protection, the latest retail casualty of the recession.

The clothing retailer had $476.1 million in total assets and $426.7 million in total debt at the time of the filing Wednesday in the U.S. Bankruptcy Court of the District of Delaware.

The Wall Street Journal reported, citing anonymous sources, that the company is likely to be acquired by private-equity company CCMP Capital Advisors.

The Bellevue, Wash.-based Eddie Bauer has struggled with slumping sales amid the recession. It reported a loss for the first quarter of $44.5 million.

Eddie Bauer and CCMP did not immediately return calls for comment.