Coldwater Creek’s Liquidation Sale Starts

In Reports, What's New, Industry News by Jeff Prine

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.”

Ralph Lauren Q4 Profit Climbs, But Outlook Disappoints
Gap Inc. Posts Mixed Q1 Sales Performance