Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Coldwater Creek files for bankruptcy protection

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Friday, April 11, 2014, 3:03 p.m.
 

The women's clothing retailer Coldwater Creek, which has failed to find a potential buyer or a source of capital to help fund its turnaround efforts, has filed for Chapter 11 bankruptcy protection.

Coldwater Creek said Friday that its stores and its website are open and selling clothing and other goods to shoppers. The chain has five outlets in the Pittsburgh area.

It said it expects to start liquidating its inventory in early May. It is planning to hold going-out-of-business sales in the coming months.

The chain said it spent six months evaluating its options, but that its financial situation and tough retail environment were too much to overcome.

Coldwater Creek has struggled in recent years because of weak consumer spending and a failure to find fashions that resonated with customers. It hadn't posted a quarterly profit since the second quarter of 2010.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Natrona Bottling Co. keeps soda pop operation small, putting effort into craft, taste
  2. PPG Industries to buy Westmoreland Supply paint store chain
  3. Fannie Mae might take 3% down
  4. Allegheny Technologies reports $700,000 loss in 3Q
  5. Streaming won’t mean the end of cable
  6. Open enrollment puts varied impact of health care law back in focus
  7. Plastics, tech sectors crucial to cracker plants
  8. Large-scale batteries are integral in shift to renewable energy
  9. IBM to pay $1.5B to shed chip division
  10. Stocks on upswing
  11. Student loan debt presents paradox
Subscribe today! Click here for our subscription offers.