REDMOND, WA-One year after splitting from its former parent company, Spiegel Inc., Eddie Bauer Holdings is considering strategic alternatives. The company has retained Goldman, Sachs & Co. as its financial adviser to evaluate and assist with a possible sale.

In a released statement Thursday, the company said there can be no assurance regarding when, or if, Eddie Bauer will sell. Company officials have no intentions of providing updates or making any further comment until the outcome of the process is determined.

Spiegel, which also operated mail-order catalogs under the Newport News and Spiegel names, filed for Chapter 11 bankruptcy protection on March 17, 2003. At the time, the move prompted industry speculation that the company would close stores or sell its Eddie Bauer chain. In June of last year, Eddie Bauer emerged from the Spiegel Chapter 11 reorganization process under its newly formed parent company, Eddie Bauer Holdings Inc.

In December, the company filed a Form 10 Registration Statement with the US Securities and Exchange Commission to register its shares. Fabian Mansson, president and CEO of Eddie Bauer, said the filing was "an important step now that Eddie Bauer has emerged as a stand-alone company for the first time in 35 years." But Mansson's enthusiasm about the company's turnaround soon dissipated.

In January, the company announced the resignation of its CFO, Timothy McLaughlin, and rescinded its quarterly SEC earnings filing after discovering errors in the balance sheets and the statements of cash flows.

Eddie Bauer operates approximately 375 stores throughout the US and Canada. The retailer also participates in joint-venture partnerships in Japan and Germany.