Coldwater Creek’s Liquidation Sale Starts

coldwatercreekSandpoint, ID—It’s the beginning of the end: on Thursday, Coldwater Creek began its going-out-of-business sale.

On Tuesday, a U.S. bankruptcy judge in Wilmington, Del. approved a liquidation plan between Coldwater Creek and two liquidators—Hilco Merchant Resources and Gordon Brothers Retail Partners.

The women’s specialty retailer had listed $278 million in assets in its April bankruptcy filing. Its total debt is $361 million. Coldwater has not been profitable since 2007.

“Closing all store locations and online,” the company said on its website, touting 30% to 50% off its remaining merchandise. “We’re sad to say goodbye, but we hope you’ll enjoy our final summer selection at fantastic savings.”

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Jeff Prine, Editor at Large, Accessories Magazine
Jeff returns as a regular contributor to Accessories magazine. Initially Jeff worked as senior editor at Accessories more than 20 years ago and his love of the industry has followed him until present. Since his tenure here, Jeff has continued to report jewelry, watch and other luxury goods trends as executive editor at Modern Jeweler magazine, fashion director at Lustre, and as contributor on products and trends for consumer and trade publications and websites. In addition to his editorial experience, Jeff also served as an adjunct instructor for accessories merchandising at Fashion Institute of Technology. jeffp@busjour.com