Eddie Bauer About to File for Bankruptcy; Natalia Vodianova to Design

Our friend bought these. Her name is Captain Obvious.

• Eddie Bauer is probably going to file for bankruptcy this week. According to a company filing, Bauer had $188 million in long-term borrowing and just $2.6 million in cash for the quarter ending April 4. Quite the debt. [USAT]

• So, online luxury e-tailer Net-A-Porter is doing great these days. Profits were up 234 percent in 2008. [Reuters]

• In an attempt to deal with the recession, Rock & Republic is launching a line of lower-priced basics called Plain Wrap. Items come emblazoned with big, bold capital letters. Jeans say "JEANS," stilettos say "STILETTO," and so on. [WWD]

• Model Natalia Vodianova will guest-design for Lutz & Patmos's pre-spring collection. [WWD]

• Like it or not, Lauren Bush's line of FEED bags is unstoppable. A new exclusive $195 version launches at Bergdorf Goodman this week. [WWD]