Cache Inc may file for bankruptcy as soon as next week: Bloomberg
The bankruptcy filing could come as early as next week, the Bloomberg report said.
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.
Cache was not immediately available for comment.
The company's shares closed down 48 percent at 9 cents on the Nasdaq on Thursday.