Coldwater Creek in Chapter 11, Plans to Liquidate

SANDPOINT, ID—Coldwater Creek Inc. on Friday said it had filed for voluntarily Chapter 11 petitions in US Bankruptcy Court in Wilmington, DE. Coldwater Creek Inc. The women’s clothing chain, which operates more than 370 stores in 47 states, is planning an orderly liquidation in the latest of a recent flurry of retail bankruptcies.

Jill Dean, Coldwater Creek’s president and CEO, says the “difficult decision” to liquidate was precipitated by the company’s declining liquidity position and “the challenging retail environment.” The company had unsuccessfully sought a buyer or a source of capital to fund turnaround initiatives, as part of a review of its options over the past six months.