The listing comes as the locally based retailer's sales are dropping, and it is losing money. During its most recently reported quarter, which ended July 1, the company reported a net loss of $42 million. Same-store sales dropped 5.9% year over year, and total revenues dropped to $225.7 million from $243.8 million during the same year-ago period.

The retailer has been trying to change its merchandise mix to enhance sales, management said in its quarterly report. Last month Eddie Bauer also inked a deal with Linens 'n Things to sell a bedding-product line in that chain's stores.

Later this month, the company is opening a new store at Main Street at Southlands, an open-air center in the Denver suburb of Aurora, CO. It opened units in San Francisco and the Atlanta suburb Marietta, GA last month.