Cache Inc may file for bankruptcy as soon as next week - Bloomberg

Cache

22/01/2015 22:10

Jan 22 (Reuters) - Cache Inc  CACH.O  is poised to become 
the latest U.S. apparel retailer to file for bankruptcy, 
Bloomberg reported, citing people familiar with the matter. 
    The bankruptcy filing could come as early as next week, the 
Bloomberg report said. (http://bloom.bg/1yTSifa) 
    The mall-based retailer said in December that it was 
evaluating strategic alternatives and had received an inquiry 
regarding a potential sale. 
    Several U.S. apparel retailers have been struggling to come 
to terms with stiff competition from fast-fashion brands such as 
H&M  HMb.ST , Forever 21 and Inditex's  ITX.MC  Zara and online 
retailers such as Amazon.com Inc  AMZN.O , who offer deep 
discounts. 
    Last week, Wet Seal Inc  WTSL.O  became the fourth 
U.S. apparel retailer to file for bankruptcy in the past two 
months, joining Deb Shops, Delia*s Inc  DLIA.O  and Body Central 
Corp  BODY.PK . 
    Cache was not immediately available for comment. 
    The company's shares closed down 48 percent at 9 cents on 
the Nasdaq on Thursday. 
 
 (Reporting by Devika Krishna Kumar in Bengaluru; Editing by 
Simon Jennings) 
 ((devika.kumar@thomsonreuters.com; within U.S. +1 646 223 8780, 
outside U.S. +918067492214; Reuters Messaging: Reuters 
Messaging: devika.kumar.thomsonreuters.com@reuters.net)) 
 
Keywords: CACHE BANKRUPTCY/