Women’s clothing retailer Coldwater Creek has filed for Chapter 11 bankruptcy protection and will liquidate business operations after failing to find a potential buyer or a source of capital to help fund its turnaround efforts.
Coldwater Creek has four locations in south Louisiana: Towne Center at Cedar Lodge in Baton Rouge, Acadiana Mall in Lafayette, Premier Centre in Mandeville and Lakeside Shopping Center in Metairie.
The company 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. The liquidation plan still needs approval from the bankruptcy court.