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Friday April 11, 2014 women's clothing and accessories retailer Coldwater Creek Inc. said the company and all of its U.S. subsidiaries have filed voluntary petitions under Chapter 11 in the U.S. Bankruptcy Court in Wilmington, Delaware.

Coldwater Creek said, it has been looking for potential alternatives over the past several months, including sale of the company.  Unfortunately the clothing retailer has failed to find a potential buyer or a source of capital to provide liquidity. After the investigation for better options, the Board of Directors determined that liquidation would be the best way to maximize value for the company's creditors.

Coldwater Creek intends to hold going out of business sales in the coming months as they are historically busy shopping periods for the retailer. Coldwater Creek's stores and website are currently open for business, and the company expects to commence sales to liquidate its inventory in early May 2014. http://ad.doubleclick.net/jump/N6535.1375.THENASDAQOMXGROUPINCN/B8056459.4;sz=1x1;pc=[TPAS_ID];ord=526983589?

Further, Coldwater Creek said it has reached an agreement with its lenders on its bankruptcy filing to maximize creditor recoveries and reduce administrative expenses. The company has also agreed to let inventory liquidators Gordon Brothers Retail Partners, LLC and Hilco Merchant Resources, LLC to manage the company's inventory clearance sales.

Below information is for historical reference:

Coldwater Creek began in 1984 as a home business with one phone, an extra-long cord, a closet stuffed with merchandise and a fierce determination to set new standards for mail order service. Today Coldwater Creek is a leading specialty retailer of women's apparel, gifts, jewelry and accessories. They sell their merchandise through a growing number of premium retail stores throughout the country, their own direct-mail catalogs and their e-commerce web site at www.coldwatercreek.com. Their headquarters are located in Sandpoint, Idaho, with a customer contact and tech center in nearby Coeur d'Alene, Idaho and a state-of-the-art distribution and customer contact center located in Parkersburg, West Virginia. 

Their multi-channel approach

Since the opening of their first premium retail store in November 1999, they have evolved from a direct marketer to a multi-channel specialty retailer. Their merchandise is offered through two distinct operating segments - retail and direct. Their retail segment includes an expanding base of premium retail stores and outlet stores along with their day spa locations, while the direct segment encompasses their direct-to-consumer business through e-commerce, phone and mail operations. Their catalogs are prominently displayed in each premium retail store to encourage customers to continue shopping even after they leave their stores. This multi-channel approach also allows them to cross-promote the brand and provides customers with convenient access to their merchandise, regardless of their preferred shopping method. 

Their retail stores

Coldwater Creek's retail stores are located throughout the country in regional malls and lifestyle centers. The store experience reflects their brand position with an atmosphere that evokes the beauty of nature and a warm, relaxed sense of ease. The experience is meant to inspire and delight women with a beautifully vibrant, inviting, and natural mood. With every visit, each customer can delight in discovering something new and be inspired by individual products that reflect the brand's heritage as a specialty purveyor of unique goods. Associates encourage customers to explore and are knowledgeable and passionate about the origins, stories, nuances, and design of all of their products. As of January 30, 2010, they operated 356 stores throughout the United States.

Their catalogs

They mailed their first catalog in 1985, and the catalog business remains an important part of their business. They seek to create a seamless connection across all of their customer touch points from their stores to their catalogs to their web site. Their catalog communicates the brand's passion for artful, beautiful design. Customers are inspired by a unique, original, and authentic experience that connects with their creative spirit. Their catalogs feature full color photographs, graphics and artwork to showcase their merchandise. The Coldwater Creek catalog is designed to drive traffic to their premium retail stores, primarily featuring merchandise that can be found in these stores. Customers can place orders over the phone, through the mail or on their web site. 

Their web site

Their e-commerce business at coldwatercreek.com began in July 1999 and is another important vehicle to communicate with their customers. They remain focused on ensuring that all of their touch points, ranging from their stores, web site, catalog, and advertisements, have the same powerful brand message and experience. Their web site seeks to convey a sense of vibrancy, femininity, relaxed beauty, and modern color that connects with the brand's roots that are centered in the natural world and its warm and inviting experience. The web site features the entire full-price merchandise offering found in their catalogs. Customers are driven to the web site primarily by their catalogs, e-mail campaigns and online advertising. 

Their customer service

Customer service is merely one aspect of a more overarching goal to create an exceptional customer experience. The customer experience at Coldwater Creek doesn't just happen. It is there by design. From the sense of delight evoked in their stores to the personal commitment inherent in their associates, each element of the Coldwater Creek experience is carefully designed. Coldwater Creek associates reflect the individual passion, fashion sensibility, and confident spirit of the brand. With many of the same interests, backgrounds, and passions, customers can easily connect with associates, knowing that they understand their needs and share an awareness of their unique fashion and lifestyle issues and objectives. Shoppers feel at ease and engaged knowing they are in a store that gets them.

The intimate and meaningful relationship developed between customers and associates means that each customer is personally looked after, cared for, and valued. Associates are committed to meeting each shopper's needs, building friendships with customers, and going above and beyond to provide the best, most individualized service possible. To ensure that their customer receives the same level of exceptional service, ongoing training is provided for all store and customer contact center personnel. The training is focused on company culture, customer service methods and expectations, and product knowledge. They also monitor customer shopping survey scores, customer comments, conversion rates and other operational metrics on a daily basis.

Learn more about Coldwater Creek at their website.

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