Coldwater Creek Preparing to File for Bankruptcy

Women's apparel retailer Coldwater Creek could file for bankruptcy within a week as it struggles with high debt and declining sales, The Wall Street Journal reported, citing people familiar with the matter. Attempts to avoid a bankruptcy filing by refinancing debt or selling itself to a private-equity buyer were unsuccessful, the sources told the Journal. Coldwater Creek wasn't immediately available for comment. Sales fell 18 percent to $154.5 million in the third quarter ended Nov. 2, while same-store sales declined 16.8 percent.