SANDPOINT - Beyond the dollars and cents, Coldwater Creek's bankruptcy is a blow to the local identity.

As one of the community's largest local employers, the company was an integral part of the local economy and a consistent supporter of local education and charities. However, the company was also woven into Sandpoint's character, making it a cultural loss as well.

"Coldwater Creek has been an employment, philanthropic and cultural mainstay in Sandpoint for 30 years," said Dave Gunter, who retired as the company's divisional vice present of corporate communications and investor relations in June 2007.

"This latest chapter takes nothing away from the power of the original vision of Ann and Dennis Pence and the fact that they put literally everything on the line when they founded their company in our community back in 1984."

According to Alivia Metts, an economist for the Idaho Department of Labor, the company's bankruptcy may slow local economic growth in the near future. As a supplier of high-paying jobs, Coldwater Creek employees were usually in a solid position to dine at restaurants, purchase real estate and patronize local services. Furthermore, it fit into a unique niche within the realm of Bonner County jobs. While there is some job overlap within the local economy, there's not a lot, Metts said.

"Obviously, this will create a ripple effect throughout the community," she said.

She compared the bankruptcy to the closure of JD Lumber in 2008. With more than 200 employees, the company's closure had a similar cooling influence on the economy during some very trying years, Metts said.

Even so, the situation could be much worse, Metts added. She said local efforts to diversify the economy should soften the fiscal blow.

"(The region) certainly doesn't have all its eggs in one basket," she said.

According to local nonprofit officials, it will take time to understand the bankruptcy's full impact on Coldwater Creek's supported charities. Panhandle Alliance for Education executive director Marcia Wilson said the organization, which once relied on Coldwater Creek's donations and fundraisers, has broadened its support over the years.

"We've been able to start spreading the love, so to speak," she said.

PAFE's golf tournament fundraiser, for instance, will likely continue. The nonprofit has other resources as well, like a fundraising gala and savings account. Given those safety nets, the bankruptcy shouldn't impact PAFE's ability to fund local education projects, although it may slow its rate of savings, Wilson said.

Of course, that doesn't mitigate the loss to the community, she added.

"We're very sad and very concerned about our friends and family over there," she said.

The Greater Sandpoint Chamber of Commerce will be keeping a close eye on the full impact to the local economy, according to chamber president Kate McAlister. In the coming week, the chamber will host several meetings to analyze the potential fallout of Coldwater Creek's announcement.

Similarly, the Bonner County Economic Development Corporation is mobilizing to provide resources for those affected by the bankruptcy, executive director Karl Dye said.

"Bonner County Economic Development will do anything possible to help Coldwater Creek employees and their families at this time," Dye said.

The Idaho Department of Labor will also be hosting orientation sessions following the employee layoffs, Metts said. Projected to be held at Coldwater Creek headquarters, the sessions will include job placement services, resume workshops, social media, job fairs and more. A time and date for these presentations will be available soon.