Boston -- Gordon Brothers Group and Hilco Merchant Resources have, effective May 8, launched the total liquidation of Coldwater Creek brick-and-mortar stores and its website.
The joint-venture team is conducting closing sales at all Coldwater Creek stores and online, offering 30% to 50% off all items.
“We thank our many customers and dedicated employees for their tremendous loyalty over the years and are very proud of our associates’ commitment to maintaining our award-winning customer service and positive shopping experience we are known for throughout this transition,” said Jim Bell, CFO, Coldwater Creek.
The Sandpoint, Idaho-based women’s apparel chain will shutter all 365 stores across the U.S. It announced last month that it had filed a Chapter 11 voluntary reorganization petition and would wind-down all operations around the Mother’s Day timeframe.
The move wasn’t a big surprise, as Coldwater Creek had sought a potential buyer in late 2013 and had unsuccessfully tried to secure additional financing to deal with looming debt.
The closures deliver about 2.2 million sq. ft. of space back to the market.