Billings Coldwater Creek store closing amid bankruptcy

2014-04-14T11:35:00Z 2014-04-15T06:18:04Z Billings Coldwater Creek store closing amid bankruptcyBy ERIK OLSON eolson@billingsgazette.com The Billings Gazette

The owners of Coldwater Creek, a women’s apparel shop outside Rimrock Mall in Billings, have declared bankruptcy and are closing all their stores within the next few months.

Officials for the Sandpoint, Idaho-based company announced Friday they explored other alternatives over the past six months before settling on voluntary Chapter 11 bankruptcy and liquidation.

Stores will continue to accept coupons and returns through May 7. A more detailed schedule of store closures will be posted on the company’s website next month, Coldwater officials said.

Coldwater Creek has 365 stores nationwide and about 6,000 employees. According to its bankruptcy petition, the company has $361.3 million in liabilities but only $278.5 million in assets.

The Billings store is at 316 S. 24th St. West, in a strip mall owned by the Rimrock Mall at the southeast corner of the main property.

Workers in Billings referred phone calls to representatives of the company’s headquarters, who declined to release information on individual stores such as total number of layoffs.

Copyright 2014 The Billings Gazette. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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