Jul 28, 2014

Coldwater Creek Files for Chapter 11, All Stores will Close

All stores will be closed by summer.

Coldwater Creek Files for Chapter 11, All Stores will Close
Now's the time to stock up on your favorite designs at Coldwater Creek.

The beleaguered women's clothing retailer, stricken with declining sales and a severe cash crunch and mounting debts, announced  it had filed for Chapter 11 bankruptcy protection on Friday and all stores would be closed by early summer.

"While we are extremely disappointed with this outcome, the company's declining liquidity position and the challenging retail environment, together with the fact that we have exhausted all other possibilities, requires that we take this action," Chief Executive Jill Dean said in a statement.

Coldwater Creek has 365 stores and employs 6,000. 

In Rhode Island, there are two Coldwater Creek locations — one in Cranston and another in Newport.

A manager reached at the Cranston store over the weekend declined commenting.

Customers of the store in Rhode Island lamented the closure. On the Garden City Center Facebook page, many said they'd miss the store and the helpful employees who worked there and now will be searching for new jobs.

"I think I am going to cry!!!" said Jan Rogers.

"The ONLY place around where you could actually get help with your shopping. In all other stores the Cash register folks (can't call them sales people) act like they've done you a huge favor by taking your money.I am going to miss this store," said Claudia Pittman Lawson.

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