Cache Is Said to Plan Liquidation After Bankruptcy Filing

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, according to people familiar with the situation.

The retailer has sought bids for firms that can help shut down all its stores and sell assets in a bankruptcy, said the people, who didn’t want to be identified because the process isn’t public. While it’s possible a last-minute buyer could emerge for the chain, Cache is unlikely to continue operating, the people said. Bloomberg News reported last week that the clothing chain was close to filing for bankruptcy.