Economy
Related: About this forumColdwater Creek files for bankruptcy protection
http://gazette.com/coldwater-creek-files-for-bankruptcy-protection/article/feed/107920Coldwater Creek files for bankruptcy protection
Associated Press Updated: April 11, 2014 at 7:31 am Published: April 11, 2014
SANDPOINT, Idaho (AP) The women's clothing retailer Coldwater Creek has filed for Chapter 11 bankruptcy protection after failing to find a potential buyer or a source of capital to help fund its turnaround efforts.
Coldwater Creek said Friday that its stores and its website are still open and selling clothing and other goods to shoppers.
But it expects to start sales to liquidate its inventory in early May. It plans to hold going out of business sales in the coming months.
The chain said it spent the past six months evaluating its options, but that its declining financial resources, tough retail conditions and its inability to find other viable options drove it to file for bankruptcy protection.
djean111
(14,255 posts)Also think that a recession is still trickling down. A lot of people either do not have extra money to spend or they are afraid to spend in case their job disappears or whatever.
JustAnotherGen
(31,828 posts)It's my go to place to get my mom gifts . . . She likes their jewelry and scarves and sweaters. It's 'fun clothing' for older women according to her - she who refuses to go down as an 'elderly woman' without a fight.
CrispyQ
(36,470 posts)before they went exclusively to overpriced cheaply made clothing. They lost me as a customer then.
Warpy
(111,267 posts)I just didn't like the "polester/spandex" featured in every description. Nothing is more miserable i a desert summer than trying to wear plastic.
This year I've ordered a few free trade shirts from India. I might look like a geriatric hippie in them, but at least I'll be more comfortable.
Sherman A1
(38,958 posts)It's one of my wife's favorites, not that we buy a lot there but she enjoys shopping the store and their catalogs.
I am very sorry for those who will be losing jobs in this bankruptcy, that is never, ever a good thing.
Warpy
(111,267 posts)because the middle class is dying off.
When are dumb plutocrats finally going to catch a fucking clue? Depressing wages didn't end inflation. They only killed the goose laying all their golden eggs. No amount of bought Republican congressmen is going to change that fact.
You kill disposable income for everybody besides the 1%, you kill first the economy and then the country.