Cache Inc., the women’s clothing chain known for helping popularize Armani and Versace designs in the U.S., is planning to liquidate the company after filing for bankruptcy, Bloomberg News reported on Friday. The retailer has sought bids for firms that can help shut down all its stores and sell assets in a bankruptcy. A liquidation would add Cache to the ranks of other mall-based retailers that have ceased operations since the end of last year, including Delia’s Inc., Deb Stores and Body Central. Unlike those chains, Cache is based in more upscale shopping centers, many of which are still thriving. Still, the company faces pressure from e-commerce sites and fast-fashion rivals such as Hennes & Mauritz AB, which offer a cheaper alternative.
