MYRTLE BEACH, SC (WMBF) – Coldwater Creek, Inc., a women's clothing retailer that operates stores including those at The Market Common and the Tanger Factory Outlets at Myrtle Beach, has filed for Chapter 11 bankruptcy protection.
On April 11, Coldwater Creek announced the company and its subsidiaries filed for voluntary petitions under Chapter 11 in Bankruptcy Court in Delaware "in order to facilitate an orderly wind-down of its operations," according to a statement on the company's website. The company's plan is to liquidate its inventory and close its stores after failing to attract a buyer.
According to a Facebook post by The Market Common: "The retailer said it had considered several strategic alternatives over the past six months, including a sale, although it couldn't find a buyer or raise enough capital to fund its business." The company expects to start going-out-of-business sales to liquidate its inventory in early May.
Coldwater Creek operates stores on Howard Avenue in The Market Common, and on Kings Road at the Tanger Factory Outlets at Myrtle Beach.