Idaho-based Coldwater Creek is on the verge of bankruptcy, according to the Wall Street Journal.
Founded in 1984 in Sandpoint, the women's apparel and accessories retailer operates more than 300 stores nationwide, but following a a trend of negative sales, the company put itself up for sale in October 2013. And now, the Journal reports that Coldwater Creek could file for bankruptcy within a week.
The Journal reports that attempts to avoid the bankruptcy by either selling itself to a private-equity buyer or by refinancing its debt were unsuccessful.
In April 2010, Coldwater Creek was trading at more than $34 per share, but as of this morning, Coldwater stock was selling for 20-cents per share on the NASDAQ exchange.
The Journal reports that shares of the company fell 78 percent in the past twelve months. According to its latest quarterly filing, Coldwater Creek listed $353.1 million in total liabilities and $6.8 million in cash.