Coldwater Creek Blasts 'Reckless' Creditor Ire Over DIP Loan

Law360, New York (June 5, 2014, 2:24 PM EDT) -- Defunct clothier Coldwater Creek Inc. responded to creditors' objections to its impending auction sale and attempts to secure debtor-in-possession financing in Delaware bankruptcy court Wednesday, calling their disapproval “remarkable” and “reckless.”

In a more than 300-page filing, the Idaho-based company insisted that its bid to garner approval for $75 million in DIP loans from Wells Fargo & Co. was made in good faith and negotiated prior to its Chapter 11 petition, when it was faced with sharp declines in sales and other challenges. It called the...
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