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Coldwater Creek store at Kent Station to close
The Coldwater Creek store at the Kent Station shopping center will close in the next month or two after the Idaho-based women's clothing chain announced it is shutting down all of its stores nationwide.
The company announced Friday in a news release that it has filed for Chapter 11 bankruptcy after failing to find a buyer
"While we are extremely disappointed with this outcome, the company's declining liquidity position and the challenging retail environment, together with the fact that we have exhausted all other possibilities, requires that we take this action," said Jill Dean, president and CEO in the release. "As we begin preparing to wind down our operations, customers should know that our stores and website remain open for business and we will be providing information about the tremendous values that will be available at our inventory clearance sales in the coming weeks."
Coldwater Creek has 365 stores in 47 states and started 30 years ago in Sandpoint, Idaho. The other Washington locations are in Bellevue, Gig Harbor, Kennewick, Lynnwood, Olympia, Tacoma, Tulalip and Union Gap.
The company has assets of $278.5 million and liabilities of $361.3 million, according to a Reuters report.