Pursuits
Coldwater Creek Wins Approval of Bankruptcy Loan
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Coldwater Creek Inc. won court approval to borrow $42 million to finance operations while the women’s clothing retailer prepares for going-out-of-business sales at its more than 370 stores.
The loan from current lender Wells Fargo & Co. will allow the company to maximize returns for creditors, Coldwater said in court papers. Coldwater, founded as a catalog business 30 years ago, said last week it intends to start liquidating inventory just before the May 11 Mother’s Day holiday.