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Gordon & Hilco JV to manage Coldwater Creek Stores closure

May 12, 2014 (United States Of America)

A joint venture of Gordon Brothers Group and Hilco Merchant Resources announced that it will begin closing sales at all Coldwater Creek stores and on the company's website beginning Thursday, May 8th. Discounts on all merchandise will be offered on the entire inventory of women's apparel and accessories including the newest spring and summer styles.  
 
Coldwater Creek currently operates 365 retail locations across the United States in addition to its e-commerce channel. Fixtures, furniture and equipment from the stores, warehouse and corporate offices will also be available for sale.
 
Just in time for Mother's Day, substantial reductions off original prices will be taken on every item in every department, including new arrival tops, tanks, sweaters, skirts, jeans, shorts, shoes, handbags, jewelry and shapewear.
 
"Coldwater Creek has a very strong following among its customers and we hope they take advantage of the great savings that will be available throughout the sale," Bob Grosskopf, Co-President of Gordon Brothers Group's Retail Division stated.
 
Cory Lipoff, principal at Hilco Merchant Resources, said, "Coldwater Creek is a truly iconic brand and consumers are encouraged to save while selection is best.  Because of the compelling discounts and spectacular assortment of merchandise, we expect this will be a short sale.  In addition, Coldwater Creek gift cards will be honored throughout the sale."
 
"We thank our many customers and dedicated employees for their tremendous loyalty over the years and are very proud of our associates' commitment to maintaining our award winning customer service and positive shopping experience we are known for throughout this transition," said Jim Bell, Chief Financial Officer, Coldwater Creek.
 
About Coldwater Creek
Coldwater Creek has been a leading specialty retailer of women's apparel, jewelry and accessories for thirty years. The Company was founded in 1984 in Sandpoint, Idaho, and sells its merchandise through premium retail stores across the country, as well as through catalog and e-commerce channels. The Company is known for its distinctive style, including vibrant and colorful palettes and its signature looks. Coldwater Creek currently operates approximately 365 retail stores throughout the U.S.
 
About Gordon Brothers Group
Founded in 1903, Gordon Brothers Group is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, and operatingbusinesses for extended periods. Gordon Brothers Group conducts over $50 billion worth of transactions and appraisals annually.
 

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