Sandpoint, Idaho -- Private equity firm Golden Gate Capital has provided Coldwater Creek with a five-year, $65 million senior secured term loan. The retailer also announced the completion of an amendment to its $70 million revolving credit facility with Wells Fargo Capital Finance, which matures on May 16, 2016. “We are pleased to announce this strategic investment and partnership with Golden Gate Capital, which is a strong endorsement of our brand and turnaround strategy, and provides us with further financial flexibility to complete our near term business objectives and accelerate our growth plans,” said Dennis Pence, chairman and CEO
Eddie Bauer announced that Michael R. Egeck has been named its President and Chief Executive Officer. Egeck was most recently CEO of Hurley International LLC, a leading marketer of action sports and youth lifestyle apparel, and a division of Nike, Inc. David Chamberlain, Executive Chairman of Eddie Bauer who has served as Interim CEO since February, will remain a member of the companys board of directors.