Coldwater Creek Inc. (NASDAQ:CWTR) Goes Cold Over B-Word
Denver, CO, 04/01/2014, (Avauncer.com) - Coldwater Creek Inc. (NASDAQ:CWTR) took a plunge of more than 76% on Monday after reports that the women’s apparel retailer is preparing to file bankruptcy.
The Talk About The B-Word
As per the reports from the Wall Street Journal, the company, which has been battling for profitability right since 2007, may move in for bankruptcy protection by as early as this week. The retailer may look out for liquidation of its assets so as to meet its debt obligations. The recent speculation of the bankruptcy comes after the company’s recent disclosure to explore strategic alternatives, which included sale proposition or refinancing of debt too. However, its efforts did not fetch results and pushed it to on the verge of taking this step. Coldwater Creek Inc. (NASDAQ:CWTR) is the latest victim of the languising mall traffic, where customer’s cautious approach has forced the players like Sbarro LLC and Dots LLs to put themselves up for protection from their creditors.
Period Of Losses
According to the data published by Bloomberg, Coldwater Creek Inc. (NASDAQ:CWTR) reported losses in total of $59.6 million consecutively in the last three quarters and it has not yet announced the schedule for its fourth-quarter. In December 2013, Coldwater’s net loss increased to $23.79 million, that is, $0.78 per share from the previous year’s net loss of $0.67 per share or $20.53 million. Its stores sales in the last quarter dipped 18%, from $188.12 million to $154.49 million, indicating troubled times ahead for the women retailer. The company has posted losses to the tune of $81.8 million last year. As of November 2, 2013, the company had accumulated liability of $353.10 million.
Coldwater Creek Inc. (NASDAQ:CWTR) debuted in 1984 as a catalog selling accessories and gifts meant for women and was scaling heights at the time of 2005. The company commenced operating through stores in the 1990s and had a total of 379 stores as on November’ 2013. The company’s representatives were not available to provide any confirmation or comment on the reported information.DISCLAIMER: This content is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. - Contact us at support @ avauncer dot com if you have any questions or comments.