Coldwater Creek (CWTR) is on the verge of filing for bankruptcy.
The women’s retailer has been struggling with declining sales that have led to a high debt load. Coldwater Creek’s decision to file for bankruptcy mirrors the broader industry as several retailers have been struggling lately.
The company has been struggling for months and it tried to avoid bankruptcy through several means. Coldwater Creek tried refinancing itself or selling itself to a private-equity buyer but none of these attempts came to fruition.
The retailer’s debt load is up to about $353 million out of which about $180 million lie in current liabilities.
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