ST. LOUIS — Soft Surroundings, the St. Louis-based retailer that sells women’s clothes, beauty products, gifts and home décor, plans to sell its direct-to-consumer assets to another retailer as part of a restructuring under Chapter 11 bankruptcy. If approved, the plan calls for shuttering the local retailer's brick-and-mortar stores.
The retailer's parent, Soft Surroundings Holdings LLC, filed for Chapter 11 bankruptcy Sunday in U.S. Bankruptcy Court for the Southern District of Texas in Houston. Soft Surroundings is owned by Los Angeles-based private equity firm Brentwood Associates.
The retailer said in a press release Monday that it filed the bankruptcy petition to implement a "restructuring support agreement" under which it will sell its assets to catalog and online retailer Coldwater Creek, which is owned by Newtimes Group.
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