US: Coldwater Creek silent on bankruptcy reports
US retailer Coldwater Creek has remained silent on reports it could file for bankruptcy within a week amid declining sales and deeper losses.
Sources told the Wall Street Journal this week that attempts by the firm to avoid a bankruptcy by refinancing debt or selling itself to a private-equity buyer have been unsuccessful.
In its third-quarter in December, the company recorded a double-digit sales decline, falling margins and a wider net loss. Months earlier it had initiated a restructuring programme, slimming its workforce expense by 20%.
Coldwater Creek did not return a request for comment.
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