According to the company's most recent SEC filing, Eddie Bauer posted a loss of $22.8 million on revenue of $594 million in the six months ended Dec. 31.

Eddie Bauer has decided to explore strategic alternatives for the company in order to “increase shareholder value,” according to a company release. However, Eddie Bauer said it will not provide more comment until the outcome of this process is determined.

Goldman Sachs will be the company's financial adviser during this process.

Eddie Bauer emerged from parent company Spiegel Inc.'s Chapter 11 reorganization proceedings last year as a stand-alone company. It has issued 30 million shares to 575 shareholders who were owed $1.4 billion in debt by Spiegel, according to various reports.

The company has blamed its losses on lack of customer response to store offerings. Its fashions were too slim fitting and offered too many bright colors. In essence, Eddie Bauer moved too far away from its "outdoor heritage” and raised prices too aggressively, the company said in a previous SEC filing.

Eddie Bauer announced the resignation of its cfo, Timothy McLaughlin, in January. And as indicated by a re-filed Form 10 with the SEC, the company continues to try to be listed on the Nasdaq stock market.

Possible buyers for Eddie Bauer include a host of private equity companies, which, in the past year or two, have gobbled up other retailers ranging from Sports Authority to Neiman Marcus. Other potential suitors include the VF Corp., which owns Wrangler, Nautica and Vans, among other brands, according to reports.

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Stock %Chg Industry Mkt Cap Sports Authority $0.00 +0.00% Specialty $0.0M Quote data as of: 03/31/2008 12:10 PM