Down Discomforter 0
Dour Bauer:
(snip)
Eddie Bauer had $187.9 million in long-term borrowings and $2.62 million in cash in the quarter that ended April 4, according to a company filing. The company reported a loss of $44.5 million in the first quarter on sales of about $180 million.
If you read below the headlines, many of the bankruptcies are coming, not because of what’s happening today, but because of what happened yesterday–companies contracted oodles of debt figuring that they could just keep refinancing it forever.
