Dive Brief:

• Women’s apparel chain Coldwater Creek will file for bankruptcy court protection in hopes of avoiding bankruptcy as it struggles under heavy debt and falling sales.

• Attempts to refinance its debt or find a buyer have been unsuccessful the past several months, according to the Wall Street Journal.

• Private equity firm Golden Gate Capital two years ago gave the retail company a $65 million loan and has the option to buy stock in the publicly traded company.

Dive Insight:

Like many clothing retailers, Coldwater Creek, which runs stores, factory outlets, a catalog and online business, plus a few spas, has been struggling lately, with a poor holiday showing. But the real trouble is that the company doesn’t seem to have a clear plan for the future.