New York, April 25, 2014 - Lowenstein Sandler LLP was recently retained as unsecured creditors' committee counsel in the Chapter 11 bankruptcy case of clothing retailer Coldwater Creek Inc. based in Sandpoint, Idaho. The company and all of its U.S. subsidiaries have filed petitions under Chapter 11 in the U.S. Bankruptcy Court in Wilmington, Delaware. The company expects to commence sales to liquidate its inventory in early May. In conjunction with its Chapter 11 filing, Coldwater Creek has received a commitment for $75 million in "debtor-in-possession" financing from its existing lender, Wells Fargo. Subject to court approval, this financing will be available to support the Company's operations during the wind-down process. The Lowenstein Sandler team includes Kenneth A. Rosen, Bruce S. Nathan, Norman N. Kinel and S. Jason Teele.
The Lowenstein Sandler Bankruptcy, Financial Reorganization & Creditors' Rights Group combines customized strategies with big-picture business counseling and crisis management. The firm's attorneys represent debtors and creditors' committees in Chapter 11 proceedings nationwide, as well as diverse financial institutions managing troubled credit. The firm worked on behalf of shareholders and bondholders in connection with a major recent corporate bankruptcy contributed to a record multibillion-dollar recovery for a securities class. Lowenstein Sandler represents a major labor union in several of the country's largest airline bankruptcies and the creditors' committee in many of the largest Chapter 11 cases.
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