Spiegel hopes to emerge intact from bankruptcy.

PORTLAND (AP) – Outdoor outfitter Eddie Bauer’s corporate parent wants another extension of the deadline to file its reorganization plan, leaving potential suitors like L.L. Bean to wait a bit longer for the outcome.

A U.S. Bankruptcy Court judge is expected to rule Tuesday on Spiegel’s fourth request for a 90-day extension. Spiegel said it needs time to review financial results from 2003 to prepare a financial forecast for its restructuring plan.

The plan will say whether Spiegel thinks it can emerge from bankruptcy as an intact, ongoing operation, or whether it will try to satisfy creditors by selling some or all of its assets, including the Eddie Bauer chain, which could be worth up to $200 million.

Freeport-based L.L. Bean said it might be interested in buying all or part of Eddie Bauer soon after Spiegel filed for protection from creditors last March. Analysts said the purchase could help L.L. Bean expand its retail presence and reduce its reliance on catalog and Internet sales.

Eddie Bauer, which had $1.4 billion in sales in 2002, has about 500 stores nationwide.

L.L. Bean, with $1.1 billion in sales in 2002, has four flagship stores and 15 outlets.

About 20 percent of L.L. Bean’s revenues come from retail store sales. President and chief executive officer Chris McCormick said he wants to increase that figure to 50 percent within a few years.

L.L. Bean has said it is in the financial position to make such a large purchase. It’s also coming off what’s expected to be one of its most successful years in a decade, with strong sales all year and a holiday season that set records for single-day sales by phone, in stores and over the Internet.

L.L. Bean spokeswoman Mary Rose MacKinnon said the company remains interested in Eddie Bauer. L.L. Bean is currently just an observer as the bankruptcy proceedings move forward, she said.

AP-ES-02-05-04 0216EST