10:06am: Talkline with Hoppy Kercheval

Commerce Secretary: Five companies interested in former Coldwater Creek distribution site

PARKERSBURG, W.Va. — The secretary of the state Department of Commerce confirmed Tuesday that five companies are considering the former Coldwater Creek distribution center in Wood County for potential future development.

“Currently, we have five active prospects, all of which are as big or bigger than Coldwater Creek looking at the facility and, while that process is always slower than I like, I suspect we’re going to turn that facility over and put a new company there,” said Keith Burdette.

Burdette was in Parkersburg on Tuesday to meet with the lenders who helped finance the 1,000,000-square foot warehouse through multiple expansions and provide outlines about the possibilities.

Non-disclosure agreements prevent the companies involved from being named.

In addition to three private banks, one of those lenders is the West Virginia Economic Development Authority.

Burdette said an estimated $27 million total is still owed on the property.

The Wood County Development Authority owns that building which sits off of Interstate 77 in Mineral Wells, so a lot has been on the line since Coldwater Creek, the women’s clothing retailer, first announced plans to file for Chapter 11 bankruptcy and liquidate in April.

At different times, between 300 and 800 people had worked at the distribution facility.

Burdette sounded optimistic about its future on Tuesday’s MetroNews “Talkline.” “At the end of the day, Wood County could actually end up with more jobs and they could maybe make a little money off of that building,” he said. “It’s an incredibly attractive asset.”

He said it could be several months before any deal is finalized.

Coldwater Creek, which was based in Idaho, operated the Mineral Wells distribution facility for nearly 15 years.





More News

News
MetroNews This Morning 3-29-24
Summary of West Virginia news, sports, and weather for Friday, March 29, 2024
March 29, 2024 - 6:24 am
News
Dunlow Volunteer Fire Department closes
The Dunlow VFD did not have a valid workers compensation insurance policy.
March 29, 2024 - 1:23 am
News
As Yeager Airport's Wildlife Patrol Dog turns 7, a new dog comes in to learn from him
The new Border Collie is getting acclimated and receiving training for his soon-to-be role.
March 28, 2024 - 6:30 pm
News
PEIA examines financial effects of new law meant to ensure local pharmacies get fair reimbursements
Gov. Jim Justice signed Senate Bill 453 into law this week.
March 28, 2024 - 4:11 pm


Your Comments