Cache Inc., an almost 40-year-old clothing chain known for helping popularize Armani and Versace designs in the U.S., is preparing to file for bankruptcy, Bloomberg News reported on Friday. The move is expected as soon as this week after Cache said last month that it was exploring options and had received an inquiry from a potential buyer. The company hasn’t provided an update on the process since then. The company would join Delia’s Inc., Deb Stores and Wet Seal Inc. in seeking protection from creditors in recent weeks. The chains have suffered from slower foot traffic at shopping malls, as well as growing competition from overseas competitors and e-commerce sites. Another chain, Body Central Corp., said this month that it will liquidate under state-court supervision.
