Coldwater Creek’s Liquidation Sale Starts

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

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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