Coldwater Creek Creditors Question Unexpected Sales Boom
According to the Wall Street Journal, creditors have raised questions about what happened in the final days before Coldwater Creek handed over the keys to its 330-store chain to liquidators in bankruptcy.
An unexpected sales boom occurred in the weeks between the April bankruptcy filing and the liquidator takeover in early May, the Wall Street Journal reported.
The Wall Street Journal said that whether the sales boom was caused by shoppers in search of post-bankruptcy bargains, or, as creditors suspect, that the company’s sales projections were tailored to justify bankruptcy financing that wasn’t needed, is now under question among creditors.
To read the full Wall Street Journal report, (subscription required), click here.
Previously on abfjournal: Gordon Bros & Hilco Close Coldwater Creek Stores, May 8, 2014