PORTLAND – Companies hoping to buy outdoor outfitter Eddie Bauer’s corporate parent will have to wait now that a federal judge has granted the parent company a third extension on the deadline for a reorganization plan.

Spiegel Inc. now has until May 10 to file its plan to emerge from Chapter 11 bankruptcy, a U.S. Bankruptcy Court judge in New York ruled Tuesday. The extension gives Spiegel until July for creditor approval.

The plan is expected to say whether Spiegel thinks it can emerge from bankruptcy as an intact, ongoing operation, or whether it will try to satisfy creditors by selling some or all of its assets, including the Eddie Bauer chain, which could be worth up to $200 million.

Freeport-based L.L. Bean had said it might be interested in buying Eddie Bauer soon after Spiegel filed for protection from creditors last March.

Analysts said the purchase could help L.L. Bean expand its retail presence and reduce its reliance on catalog and Internet sales.

Eddie Bauer, which had $1.4 billion in sales in 2002, has about 500 stores nationwide.

L.L. Bean, with $1.1 billion in sales in 2002, has four flagship stores, all in the East, and 15 factory outlets.

About 20 percent of L.L. Bean’s revenues come from retail store sales. Chris McCormick, president and chief executive officer, has said he wants to increase that figure to 50 percent within a few years.

L.L. Bean officials have said the company is in a financial position to make such a large purchase.