Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, April 11, 2014

Coldwater Creek files for bankruptcy, retailer plans to close, (NASDAQ: CWTR)

Women's clothing retailer Coldwater Creek Inc on Friday filed for Chapter 11 bankruptcy and plans to go out of business after failing to find a buyer.Coldwater Creek joins other retailers to seek protection from creditors in recent months as consumers keep a lid on spending.The company said it plans to wind down its operations over the coming months and begin going-out-of-business sales in early May, before the traditionally busy Mother's Day weekend.Coldwater Creek said it has 365 stores and employs about 6,000 people.

Coldwater Creek Inc. (Coldwater Creek) is a specialty retailer of women's apparel, accessories, jewelry and gift items. Shares of CWTR fell by 16.99% or $-0.0389/share to $0.19. In the past year, the shares have traded as low as $0.15 and as high as $3.96. On average, 893684 shares of CWTR exchange hands on a given day and today's volume is recorded at 1047944.



Source