8-K

                            UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C. 20549


                              FORM 8-K
                           Current Report
                Pursuant to Section 13 or 15d of the
                  Securities Exchange Act of 1934


Date of Report (Date of earliest event reported) :   April 6, 2004

                            SPIEGEL, INC.

   (Exact name of registrant as specified in its charter)


  Delaware                 0-16126             36-2593917
 (State or other          (Commission file    (I.R.S. Employer
   jurisdiction of          number)             Identification No.)
   incorporation or
   organization)

   3500 Lacey Road
   Downers Grove, IL                            60515-5432
  (Address of principal executive offices)      (Zip Code)


                            (630) 986-8800
       (Registrant's telephone number, including area code)

                               No Change
  (Former name or Former address, if changed since last report)

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Item 5. Other Events

On April 6, 2004, the Registrant issued the press release attached hereto
as Exhibit 99 and incorporated herein by reference.


Item 7.  Exhibits.

(c) Exhibits

    Exhibit 99       Press release dated April 6, 2004

- ----------------------------------------------------------------------------

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

                                       SPIEGEL, INC.
                                       (Registrant)

Dated:   April 6, 2004           By:  /s/ James M. Brewster
                                     --------------------------
                                     James M. Brewster
                                     Senior Vice President
                                     and Chief Financial Officer
                                     (Principal Accounting and
                                      Financial Officer)

- ----------------------------------------------------------------------------

EXHIBIT INDEX

Exhibit No.

99           Spiegel, Inc. press release dated April 6, 2004

EX-99

EXHIBIT 99

FOR IMMEDIATE RELEASE
CONTACT:  Debbie Koopman
          (630) 769-2596
          Debbie_Koopman@spgl.com

The Spiegel Group Announces Plan to Pursue Sale of Eddie Bauer

Reaches an Agreement to Sell Newport News to Pangea Holdings Limited

DOWNERS GROVE, Ill. - April 6, 2004 - The Spiegel Group (Spiegel, Inc.) today
announced that, as part of its ongoing restructuring process, it has directed
Miller Buckfire Lewis Ying & Co. to solicit parties who may be interested in
acquiring its Eddie Bauer business.  In addition, the company stated that it
has reached an agreement with Pangea Holdings Limited (Pangea) to acquire
substantially all the assets of its wholly owned subsidiary, Newport News,
Inc.
  Bill Kosturos, interim chief executive officer and chief restructuring
officer of The Spiegel Group, said, "During the past 12 months we have taken
targeted actions to strengthen Eddie Bauer's financial performance, closing
underperforming stores and streamlining the organization, and we are pleased
with the profitable financial results.  We will evaluate the level of interest
from potential buyers as we continue to work to develop a plan of
reorganization.  Based on an analysis of alternatives and negotiations with
our Creditors' Committee, we believe that the value of the Eddie Bauer
business can be best realized by pursuing a sale at this time."
  Fabian Mansson,president and chief executive officer of Eddie Bauer, said,
"As we move through this process, we will remain intensely focused on
providing our customers the highest level of service and the versatile,
casual products that they expect from Eddie Bauer.  We have made significant
progress this past year to reinforce Eddie Bauer's rich outdoor heritage and
refine the product offer."
  Under the agreement to purchase Newport News, Pangea will acquire
substantially all of the assets of Newport News for $25 million in cash and
assume certain liabilities.  Newport News will continue to be headquartered
in New York and to operate a distribution facility in Virginia.
  The agreement is expected to be filed with the Bankruptcy Court today and
a hearing to approve the Newport News bidding procedures is expected to be
scheduled for mid-April.  The Newport News transaction will be subject to all
higher or better offers.
  Geralynn Madonna, president and chief executive officer of Newport News,
commented, "We are very pleased to see that Newport News will move forward
under new ownership.  The success of this transaction is a testament to both
the strength of Newport News as a business and the effort put forth by its
employees.  We will work to complete the sales process expeditiously and to
have a seamless transition.  At the same time, the Newport News team will
remain focused on serving its customers and delivering on its brand promise
of 'real style and real value.'"
  Kosturos concluded, "These actions are important steps toward negotiating
and moving toward filing a plan of reorganization.  We continue to evaluate
and review strategic alternatives for Spiegel Catalog while focusing on
preserving the value of its assets and are in preliminary negotiations with
an interested party."
  Miller Buckfire Lewis Ying & Co. advised the company on the Newport News
transaction and is advising the company on the Eddie Bauer sale transaction.
All parties interested in participating in the Newport News auction process
or learning more about the Eddie Bauer transaction should direct their
inquiries to Stuart Erickson, Principal at Miller Buckfire Lewis Ying & Co.
(phone 212-895-1812).

About Eddie Bauer
  Eddie Bauer is a leading tri-channel specialty retailer, offering
distinctive clothing, accessories and home furnishings for men and women that
reflect a modern interpretation of the company's unique outdoor heritage.
Emphasizing classic styles, Eddie Bauer offers versatile, comfortable, high-
quality merchandise through its two retailing concepts: Eddie Bauer and
Eddie Bauer Home. In its 84-year history, Eddie Bauer has evolved from a
single store in Seattle to a tri-channel, international company with more
than 450 stores, catalogs and online Web sites: eddiebauer.com,
eddiebauerhome.com, and eddiebaueroutlet.com.  Eddie Bauer operates stores in
the U.S. and Canada, and through joint venture partnerships in Germany and
Japan.

About Newport News
  Newport News is a dual-channel, direct marketer of moderately priced women's
fashions, providing customers with an informative and rewarding shopping
experience through catalogs and an e-commerce site (newport-news.com).
Delivering on its brand promise of "real style, real value," Newport News
fulfills the modern woman's desire for versatile, on-trend designs at easily
affordable prices.

About The Company
  The Spiegel Group is an international specialty retailer marketing
fashionable apparel and home furnishings to customers through catalogs,
specialty retail and outlet stores, and e-commerce sites, including
eddiebauer.com, newport-news.com and spiegel.com.  The Spiegel Group's
businesses include Eddie Bauer, Newport News and Spiegel Catalog.  Investor
relations information is available on The Spiegel Group Web site at
http://www.thespiegelgroup.com.

Forward-Looking Statements
  This press release contains statements that are forward-looking within
the meaning of applicable federal securities laws and are based upon the
company's current expectations and assumptions.  You should not place undue
reliance on those statements because they speak only as of the date of this
release.  Forward-looking statements include information concerning the
company's possible or assumed future financial condition or results of
operations.  These statements often include words such as "expect," "plan,"
"believe," "anticipate," "intend," "estimate," or similar expressions.  As you
read and consider this release, you should understand that these statements are
 not guarantees of financial condition, performance or results.  They involve
risks, uncertainties and assumptions.  Although the company believes that these
forward-looking statements are based on reasonable assumptions, you should be
aware that many factors could affect its actual financial results and actual
results could differ materially from the forward-looking statements.  These
factors include, but are not limited to, uncertainty regarding the company's
ability to continue as a going concern; uncertainty regarding the company's
ability to operate pursuant to the terms of the debtor-in-possession (DIP)
financing facility; uncertainty regarding the company's ability to develop and
consummate one or more plans of reorganization; risks associated with third
parties seeking and obtaining court approval to terminate or shorten the
exclusivity period for the company to propose and confirm one or more plans of
reorganization, for the appointment of a Chapter 11 trustee or to convert the
Chapter 11 case to a Chapter 7 case; the effect on the company's net sales and
cash flow of its decision to stop accepting private-label credit cards at its
merchant companies; the effects on the company of the Pay-Out Events experienced
by all of the company's securitization agreements that are backed by the
company's credit card receivables; the ultimate effect on the company of the
pending investigation by the SEC; the uncertainty relating to the outcome of the
liquidation of the credit card operations; the ability of the company to
maintain trade credit and contracts that are important to its operations; the
financial strength and performance of the retail and direct marketing industry;
changes in consumer spending patterns; risks associated with collections on the
company's credit card portfolio; the success of merchandising, advertising,
marketing and promotional campaigns; and various other factors beyond the
company's control.
  All future written and oral forward-looking statements made by the company or
persons acting on the company's behalf are expressly qualified in their entirety
by the cautionary statements contained or referred to above.  Except for the
company's ongoing obligations to disclose material information as required by
the federal securities laws, the company does not have any obligation or
intention to release publicly any revisions to any forward-looking statements to
reflect events or circumstances in the future or to reflect the occurrence of
unanticipated events.