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Coldwater Creek

20
INDUSTRY
Apparel & Textile
SIZE
$250MM
SCALE
366 stores
CONTEXT
Strategic Partnerships
Description

After failing to find a going concern buyer for its business, as a function of its bankruptcy, Hilco successfully submitted a joint bid with private equity firm Sycamore Partners to purchase Coldwater Creek.  Collectively, Hilco and Sycamore saw opportunity for Coldwater Creek to shed its stores and continue as an e-tailer, in large part due to the goodwill behind the brand. Hilco purchased and sold $250MM worth of inventory and FF&E while ultimately shedding Coldwater Creek’s 366 stores.  After the sale, Sycamore was able to leverage Coldwater Creek’s substantial brand equity to relaunch the company as a catalogue and online retailer. Our thesis was correct – Coldwater Creek is still successfully operating today.

Problem to Solve
  • Coldwater Creek, in distress, sought a going concern buyer to operate the company on a go-forward basis and provide financial stability. While certain buyers were interested in certain assets, no deal could be reached.
  • Hilco and private equity firm Sycamore Partners identified an opportunity for the retailer to shed its store base and continue its operations online only.
Solutions Provided
  • Provided capital for unwanted assets
  • Managed liquidation of 366 retail stores
Operating Companies
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Hilco Performance Solutions
The Middle Market Business Transformation Experts
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Hilco Global
As a diversified financial services company Hilco Global delivers unsurpassed asset knowledge and expertise to help companies maximize asset value and financial returns at critical inflection points throughout their lifespan.
View Company Page
Hilco Performance Solutions
The Middle Market Business Transformation Experts
View Company Page
Hilco Global
As a diversified financial services company Hilco Global delivers unsurpassed asset knowledge and expertise to help companies maximize asset value and financial returns at critical inflection points throughout their lifespan.
View Company Page
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