Coldwater Creek Files For Bankrupcty

Coldwater Creek has nine stores in Missouri. | Courtesy of gexydaf/Flickr
Coldwater Creek has nine stores in Missouri. | Courtesy of gexydaf/Flickr

Coldwater Creek, the women’s clothing retailer with nine stores in Missouri, filed for Chapter 11 bankruptcy after failing to find a buyer. The retailer listed assets of $10 million to $50 million and liabilities of $100 million to $500 million. Coldwater said it reached agreement with lenders on the liquidation plan and received a $75 million commitment in debtor-in-possession financing from Wells Fargo & Co., a current lender to the retailer.

Holders of common stock aren’t expected to recover any of their investment. “The company and its advisers were unable to find a potential buyer for the company or a source of capital to provide adequate liquidity to fund the company’s ongoing strategic turnaround initiatives,” Coldwater said.

There are two Coldwater stores in the St. Louis and Kansas City metro areas and in Columbia, Springfield, Branson, Cape Girardeau and Lake of the Ozarks.

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