Coldwater Creek Files for Chapter 11

Women's apparel and accessories retailer Coldwater Creek (Sandpoint, Idaho) has filed for Chapter 11 bankruptcy protection. The company, which has not turned a profit since 2007, had been attempting to find a buyer or other sources of capital to preserve the business.

Hoping to capitalize on Mother’s Day shopping, the company will liquidate all inventory at its 335 retail stores through “going out of business” sales beginning in early May. Coldwater Creek cited its own declining financial resources, a difficult retail environment and lack of other viable financing options as precursors to the Chapter 11 filing. Coldwater Creek had cut costs and closed stores in recent years in an attempt to prevent bankruptcy.