The women's clothing brand that a Sandpoint couple created in their apartment 30 years ago a brand that became a catalog-based powerhouse only to sink into bankruptcy this year will get new life.
New York private equity firm Sycamore Partners announced Monday that it bought the Coldwater Creek brand through an affiliate company during the Coldwater Creek bankruptcy proceedings. The firm plans to re-launch Coldwater Creek as an independent portfolio company, it said.
"Coldwater Creek is an outstanding brand with a 30-year heritage and strong support from its loyal base of longtime customers," Peter Morrow, a managing director of Sycamore Partners said in a press release. "We are excited about adding Coldwater Creek to our growing portfolio of leading retail brands and look forward to reintroducing the brand to the marketplace."
The firm has investments in other retail brands including Hot Topic, Talbots, Jones New York and Aeropostale.
Sycamore Partners did not say when it plans to re-launch the brand.