Coldwater Creek up Over 50% After Obtaining New Financing
Coldwater Creek (NASDAQ: CWTR) is trading significantly higher on the session after announcing new $65 million financing. The loan is provided by a private equity firm, Golden Gate Capital.
Dennis Pence, Chairman and Chief Executive Officer of Coldwater Creek. "We are pleased to announce this strategic investment and partnership with Golden Gate Capital, which is a strong endorsement of our brand and turnaround strategy, and provides us with further financial flexibility to complete our near term business objectives and accelerate our growth plans. Golden Gate Capital brings a highly flexible investment approach and extensive retail expertise, which will be beneficial in the continued revitalization and long-term growth of Coldwater Creek."
Coldwater Creek is currently trading at $0.786, a gain of $0.266 or 51.12%.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.