|
|
 | | | |
- close
- close
- close
- close
| |||||||||
These excerpts taken from the EBHI 10-K filed Mar 13, 2008. Joint
Venture Termination
In February 2008, the Company received a required one-year
notice from its joint venture partner in Eddie Bauer Germany of
their decision to terminate the joint venture arrangement, and
as a result, the joint
Table of Contents
EDDIE
BAUER HOLDINGS, INC.
NOTES TO
CONSOLIDATED AND COMBINED FINANCIAL
STATEMENTS — (Continued)
venture, together with a companion license arrangement, will be
terminated in February 2009 unless the Company successfully
concludes ongoing negotiations and enters into an arrangement
with a third party to transfer its joint venture interest for an
assumption by the third party of future joint venture
liabilities. As part of the proposed transaction, the Company
would enter into a licensing arrangement to license its
tradename to the new joint venture owner in exchange for
specified royalties. As of March 1, 2008, the
Company’s investment balance related to the joint venture
totaled $3,786. The Company will continue to recognize its
proportionate share of Eddie Bauer Germany’s equity
earnings or losses until the termination of the joint venture
arrangement in February 2009. As a result of the termination
notice, the Company is currently assessing the fair value of its
investment to determine if an other than temporary decline in
value has occurred.
Joint Venture Termination In February 2008, the Company received a required one-year notice from its joint venture partner in Eddie Bauer Germany of their decision to terminate the joint venture arrangement, and as a result, the joint
Table of ContentsEDDIE BAUER HOLDINGS, INC. NOTES TO CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS — (Continued) venture, together with a companion license arrangement, will be terminated in February 2009 unless the Company successfully concludes ongoing negotiations and enters into an arrangement with a third party to transfer its joint venture interest for an assumption by the third party of future joint venture liabilities. As part of the proposed transaction, the Company would enter into a licensing arrangement to license its tradename to the new joint venture owner in exchange for specified royalties. As of March 1, 2008, the Company’s investment balance related to the joint venture totaled $3,786. The Company will continue to recognize its proportionate share of Eddie Bauer Germany’s equity earnings or losses until the termination of the joint venture arrangement in February 2009. As a result of the termination notice, the Company is currently assessing the fair value of its investment to determine if an other than temporary decline in value has occurred. | EXCERPTS ON THIS PAGE:
RELATED TOPICS for EBHI: |
| |||||||
