Coldwater Creek files for bankruptcy, 500 people to lose jobs



Coldwater Creek files for bankruptcy, 500 people to be without jobs

Posted on April 14, 2014 at 7:04 PM

Updated Monday, Apr 14 at 7:41 PM

SANDPOINT, Idaho.—People in the Sandpoint area were coming to terms in April with one of the area’s largest employers filing for bankruptcy.

Coldwater Creek announced it on Friday. That means roughly 500 people in North Idaho will be without jobs.

A former employee told KREM 2 News about the company’s history and its importance to Sandpoint. The former employee said there was once a time when people flocked to the Sandpoint area to work at Coldwater Creek.

Employees continued to arrive at work and fill the parking lot on Monday morning, but things were set to change. The women’s clothing company filed for Chapter 11 bankruptcy citing its declining assets and tough retail conditions.

A former employee who worked as a designer for the company for several years in the late 90s and early 2000s said the years at Coldwater Creek were some of the best of her life. The woman said people moved to Sandpoint to work for Coldwater Creek, which was the area’s largest employer.

The former employee said she thought outside of the box and was innovative in the company’s development of its website.

The company also helped to jump start the careers of several other Sandpoint business owners. The former employee said the company’s bankruptcy hits especially hard given the company’s economic and educational ties to Sandpoint.

A company spokesperson told KREM 2 News that when the jobs are eliminated the employees will not receive any severance pay but are eligible to continue to receive health care.

Coldwater Creek is expected to cease its operations within a few months.