The Wall Street Journal women’s retailer Coldwater Creek is preparing to file for bankruptcy court protection as it deals with a high debt load, declining sales and broader industry struggles, people familiar with the matter said.

According to the Journal sources, company attempts to avoid a bankruptcy filing by refinancing debt or selling to a private-equity buyer were unsuccessful.

Private-equity firm Golden Gate Capital in 2012 provided a $65 million term loan to Coldwater Creek and has the option to buy stock in the company, the Journal added.

To read the entire Journal article, click here.

Previously on abfjournal: Golden Gate Capital Provides $65 Million to Coldwater Creek, July 10, 2012