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 20, 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)

- ----------------------------------------------------------------------------
Item 5. Other Events

On April 20, 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 20, 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 20, 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 20, 2004

EX-99

                                                            Exhibit 99

FOR IMMEDIATE RELEASE

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

The Spiegel Group Announces Steps to Rationalize
Spiegel Catalog and Corporate Functions

DOWNERS GROVE, Ill. - April 20, 2004 - The Spiegel Group (Spiegel, Inc.)
today announced that, as part of its ongoing restructuring process, it
is taking steps to rationalize its operations, making headcount reductions
at its Spiegel Catalog division and its corporate support staff.

On April 6, 2004, the company announced that it was in preliminary
negotiations with a party interested in purchasing Spiegel Catalog.
While the company's negotiations with the interested party are ongoing,
the company also continues to work with its financial advisor, Miller
Buckfire Lewis Ying & Co., to evaluate and assist in determining
potential interest in Spiegel Catalog.  The company cautions that there
can be no assurance that any purchase transaction involving Spiegel
Catalog will occur.

The company said that sufficient uncertainty exists as to whether
a potential buyer would assume the majority of the current Spiegel
Catalog work force.  Therefore, it is rationalizing the Spiegel
Catalog business to facilitate any transition of either the business
or certain assets of the Spiegel Catalog business in the event a
purchase transaction should be negotiated with an interested party,
if any, and to minimize ongoing operating losses of the Spiegel
Catalog business.

Bill Kosturos, interim chief executive officer and chief restructuring
officer of The Spiegel Group, said, "While we are involved in active
discussions with an interested party, we are continuing to take steps
to minimize the ongoing operating losses of the Spiegel Catalog business
and to help facilitate any possible transaction.  Although this has been
a difficult decision to reach, rationalizing the Spiegel Catalog business
will make it a smaller entity."

As a result, the company said that as required under the Workers Adjustment
and Retraining Notification Act, notices were issued to approximately 255
employees at Spiegel Catalog and Spiegel, Inc., with layoffs occurring today
and over the next two months.  The majority of the employees affected are
located at the company headquarters and its data center, which are both in
the Chicago area.  The company will provide severance and other benefits to
affected associates.

Geralynn Madonna, president and chief executive officer of Spiegel Catalog,
commented, "While this was a very tough business decision, I would like to
recognize the dedication and hard work of the Spiegel Catalog employees and
those in our corporate support staff.  As we work through this process, we
remain steadfast in our commitment to provide a one-stop shopping destination
and the highest level of service to our customers."

Inquiries regarding the Spiegel Catalog sale should be directed to
Stuart Erickson, Principal at Miller Buckfire Lewis Ying & Co.
(phone 212-895-1812).

About Spiegel Catalog
Long before online shopping sites presented endless merchandise to consumers
at the click of the mouse, Spiegel Catalog offered consumers a world of products
with just the turn of a page.  Founded in 1865, Spiegel has provided catalog
concepts to its customers since 1905 and e-commerce since 1995.  Offering the
benefits of shopping via a variety of channels including its trademark
"big book" semiannual catalogs, specialty catalogs, and e-commerce site
(www.spiegel.com), Spiegel provides quality, convenient shopping and a
360-degree lifestyle experience that is essential for its busy customers.

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.