Coldwater Creek Inc. NASDAQ: CWTR - Apr 11 1:49 PM ET
Posted on 04/11/2014 10:49:18 AM PDT by Red Badger
Coldwater Creek Inc., CWTR -27.68% a women's clothing and accessory retailer, filed for Chapter 11 bankruptcy protection in Delaware Friday with a plan to liquidate its inventory and close its stores after failing to attract a buyer.
The retailer said it had considered several strategic alternatives over the past six months, including a sale, although it couldn't find a buyer or raise enough capital to fund its business.
Coldwater, which operates a catalog business, retail and factory stores, as well as an e-commerce website, expects to start going-out-of-business sales to liquidate its inventory in early May.
Like much of the broader retail sector, Coldwater has faced declining sales and a heavy debt load for some time, as the industry at large struggles with a tepid economic recovery. The Wall Street Journal reported late last month that Coldwater Creek—which, at the time, carried about $353 million in total debt—was preparing to file for bankruptcy.
[SNIP]
Coldwater Creek was founded in Sandpoint, Idaho, in 1984. The company employs about 6,000 people and operates 334 retail stores, 31 factory outlet stores and seven day-spa locations.
The company reached a peak revenue of $1.1 billion and operating margin of about 8% in 2006. Shares of the company, which closed Thursday at 19 cents, have been trading under $1 since October.
(Excerpt) Read more at online.wsj.com ...
Coldwater Creek Inc. NASDAQ: CWTR - Apr 11 1:49 PM ET
Over $100.00 for a basic dress.
I receive their catalogue and have purchased a number of nice, quality items from them over the years.
Thanks, Obama...another one of your hopey-changy things up the creek.
Leni
Clothing retailers went the cheap Chinese route but kept their pricing up....their customer bases weren’t as stupid as the retailers hoped.
“————— up the creek.
—
Very funny!. :-)
.
I have a lot of nice stuff from them. My daughter worked for them and I lived near Sandpoint, so could take advantage of the yearly clearance PLUS employee discount. I’ll be first in line for the closeout sale in May.
As for the management, they did a lot of things right until they didn’t. Factions and infighting among employees didn’t help; and apparently the owner/founder couldn’t listen to good advice from industry pros.
This happens in many businesses. They start out with a good idea, have early success, then don’t know what to do when the market or economy changes…BUT they think they do know. They succeeded once, so that makes them business gurus. NOT. In the case of CC, they went up the scale instead of holding to midrange prices, also opened their own little boutiquey stores in expensive areas. Had they stayed with well-made woodsy, Idaho-ish, countryish styles and midrange prices they might have gone on as a very successful catalog sales outfit.
was it made in the USA?
The quality was way down and they no longer made it in Petite sizes.
I put new cuffs on it and it will last me another twenty.
ping
Imported.
no great loss then
“The company employs about 6,000 people and operates 334 retail stores, 31 factory outlet stores and seven day-spa locations.”
That’s 6,000 people that will now vote Republican.
CC was one of the few places I could at least find some clothing suitable for my age group. Don’t buy much from anyone any more but I was always able to find a few things there.
FYI: Their dresses were one of the few that fit me as a plus sized woman and were feminine.
As for the 100 dollars plus: Well, I wouldn’t know: I bought most of mine on Ebay. But I brought a few with me to the Philippines, and am still wearing them. They are so rugged that even our maid hasn’t managed to ruin them doing the laundry.
“I’m not a woman any more, I’m a Mom!”
http://www.hulu.com/watch/10333
I always shop online in the clearance section, or on ebay. I luuuuuuv Coldwater Creek clothes!
boo hoo!!!!!
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