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.