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Doors Closed at Coldwater Creek

 (Image source: Idahobusinessreview.com)

Coldwater Creek Inc. (NASDAQ:CWTR), the women clothing retailer has filed for Chapter 11 bankruptcy. The retailer cited liquidity problems and general challenges of the current retail environment as reasons for seeking bankruptcy protection. In addition, the retailer couldn’t find a buyer that was willing to purchase it. Starting the beginning of next month, the company will start inventory clearance sales (going-out-of business sales). However, Wells Fargo & Co (NYSE:WFC) has agreed to provide the retailer with debt-in-possession financing of $75 million.