Unfortunately, this would not be the first clothing retailer in recent history to file. Delia’s Inc., Deb Stores and Wet Seal Inc. have been seeking protection from creditors in recent weeks as well.
This is certainly not a pleasurable fashion trend. We certainly hope that the fashion industry is coming to an end on these sort of filings. It is not a good sign for the state of the economy or retail in general.
This would be Cache’s second trip to bankruptcy court. It filed a Chapter 11 petition in 1986 and emerged in 1988.
You can view the Bloomberg article that reported the issue titled Cache Chain Said to File for Bankruptcy as Soon as Next Week. It is key to note that their article was written Jan 22nd (last week).