How Spiegel Recovered

To get an idea of how far it has come, consider where Spiegel has been the past few years:

1. Within the course of one week in March 2003, The Spiegel Group, which then owned and operated the two catalogs as well as the Eddie Bauer catalog and retail business, liquidated its First Consumers National Bank private label and credit card business, and filed for Chapter 11. The credit unit had piled up $69.3 million in losses during Spiegel Group's fiscal year 2001, and had become a drain on the whole company.