Brentwood-Backed Women’s Retailer Files Bankruptcy to Liquidate

Brentwood Associates-backed women’s retailer Soft Surroundings filed for bankruptcy with plans to shutter its stores and transfer ownership of its online and catalog business to Coldwater Creek, another women’s retailer that had its own troubles in recent years.

St. Louis, Missouri-based Soft Surroundings listed liabilities of as much as $100 million in its bankruptcy petition. The Chapter 11 filing allows Soft Surroundings to keep operating while it seeks approval of a plan to repay creditors.

Under the proposed restructuring, its deal to sell assets to Coldwater Creek would close in time for the holiday shopping season. The brand ...