Coldwater Creek Files For Bankruptcy Protection, Planning Big Farewell Sale

Where will all of the women in the world shop for quality clothes at good prices? Fine, there are plenty of other clothiers, but that doesn’t make the demise of Coldwater Creek any less sad. The stores aren’t closing just yet, but that will be the next step after the retailer filed for Chapter 11 bankruptcy protection.

After spending several months evaluating its options, officials with the company say declining financial resources, tough retail conditions and the inability to find other viable options led to Friday’s filing, the Associated Press reports.

The company had hoped to find a buyer or a source of capital to fund a turnaround.

While Coldwater Creek stores and its website are still making sales, officials have plans for a going out of business sale in the next several months.

In the past, the Idaho-based company cut costs and closed stores in attempts to keep the business running.

Coldwater Creek files for bankruptcy protection [Associated Press]

by Ashlee Kieler via Consumerist