Eddie Bauer Holdings Inc. filed for Chapter 11 bankruptcy protection on June 17. As part of the filing, the company unveiled a ‘stalking horse’ agreement that outlines plan for it to be bought by CCMP Capital Advisors LLC for $202 million through a Section 363 sales process. The company is looking to complete the sales process, which is subject to the approval of the bankruptcy court, in 60 days or less. Eddie Bauer has also secured a debtor-in-possession financing commitment of up to $100 million from lenders including Bank of America, GE Capital Corp. and CIT Group/Business Credit.
Extended Stay Inc. has filed for Chapter 11 bankruptcy protection, just one year after Lightstone Group bought the company from The Blackstone Group for approximately $8 billion.
MagnaChip Semiconductor LLC, a South Korean maker of analog and mixed-signal semiconductor products for high-volume consumer applications, has filed for Chapter 11 bankruptcy protection. It also said that KTB Securities would lead an acquisition of the company’s operating and sales affiliates. The company withdrew a $575 million IPO registration earlier this year. It was formed in 2004, via the $828.2 million carve-out of Hynix Semiconductor’s non-memory semiconductor operations, by Citigroup Venture Capital, CVC Asia Pacific and Francisco Partners.