Coldwater Creek files bankruptcy

Coldwater Creek is another huge retailer that is being forced to file bankruptcy as sales continue to decline.  Coldwater had hoped to enter bankruptcy with a stalking horse bidder ready to purchase the retail chain.  However, it failed to find a buyer in time so the chain filed for Chapter 11 relief and anticipates closing its stores by early summer.  Coldwater Creek has several stores in the Chicago area that will affect the livelihood of those employees once the stores close. If you have gift cards, you had better use them immediately or you may lose the chance to use them forever.

For the full story read, “Coldwater Creek files bankruptcy, to close all stores.”

Image credit: Paul Sableman