Friday, April 11, 2014

Sandpoint-based Coldwater Creek files for bankruptcy, plans to close all stores

Posted By on Fri, Apr 11, 2014 at 11:35 AM

click to enlarge The Coldwater Creek retail shop and wine bar in Sandpoint, where the company has its headquarters. - GOOGLE STREET VIEW
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The Coldwater Creek retail shop and wine bar in Sandpoint, where the company has its headquarters.

Sandpoint-based Coldwater Creek, a women’s clothing company that also runs a wine bar in Sandpoint, filed for bankruptcy today and announced that it will close all its stores. Liquidation sales will begin in early May.

“Our talented associates continue to impress, performing their duties with professionalism and grace during this period of uncertainty," President and CEO Jill Dean says in the press release.

The company was founded in Sandpoint in 1984 as a nature-related retail catalog. Its revenue peaked in 2006 and had 379 locations as of last November, according to Bloomberg News. Sales suffered during the economic downturn, and the company had previously announced a plan to significantly downsize. More than 300 people are employed at its headquarters in Sandpoint.

Details about the bankruptcy filing and investor information is posted here.

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About The Author

Lisa Waananen is the web editor and a staff writer at the Inlander. She specializes in data and graphics, and her recent cover stories have been about family history, the legacy of Spokane photographer Charles A. Libby and genetically modified food...