Coldwater Creek to seek liquidation, according to report
New York -- Coldwater Creek Inc. is planning to liquidate its assets after a bankruptcy filing that is expected to come soon, Bloomberg News reported. The filing would come five months after the specialty women's apparel retailer, which is based in Sandpoint, Idaho, said it was exploring strategic alternatives, including a sale.
The Wall Street Journal reported last week that Coldwater Creek was preparing to file for bankruptcy-court protection within approximately one week. The retailer carries about $353 million in total debt, which includes about $180 million in current liabilities, according to its most recent earnings filing, the report said.