Idaho-based Coldwater Creek is closing about 350 stores across the country after the April 11 bankruptcy announcement. Going-out-of-business sales started in early May.
The company, founded in 1984, contended that it was unable to find a buyer or capital to continue business operations and that liquidating assets would best maximize value for the company’s creditors. According to reports from the Wall Street Journal, however, creditors recently have questioned the motives behind the filing.
The store opened in 2007 at the mall’s upper-level, outdoor Promenade section.
Victoria’s Secret will make a temporary move into the 6,100-square-foot space after Coldwater Creek closes, said Augusta Mall general manager Andy Wilke.
In August, the lingerie retailer will start remodeling and expanding its current mall space, which should last about four months and total more than 9,200 square feet when finished, he said.
Wilke said the goal is to bring an apparel company new to the area to the Coldwater Creek storefront.
“We have several exciting major tenants interested in the space once (Victoria’s Secret) vacates,” Wilke said. “All of them would be first-to-market for Augusta.”