Cache will cease operations

Los Angeles – A little more than a month after filing for Chapter 11 bankruptcy protection, specialty women’s apparel retailer Cache is throwing in the towel. Advisory and valuation services provider Great American Group (GA), which won a bid for Cache’s assets at a March 3 bankruptcy auction, has begun "going-out-of-business" sales for all Cache's retail locations in the U.S., the Virgin Islands, and Puerto Rico.



The sale will offer significant discounts on the retailer's inventory of women's apparel and accessories. Select furniture, fixtures and equipment at stores, warehouses and corporate offices will also be for sale.



"For more than 30 years, we've built a reputation of providing a premier boutique shopping experience that caters to fashion-conscious women,” said Jay Margolis, chairman and CEO, Cache. “For that, we'd like to thank our customers for their incredible loyalty over the years and our associates for their commitment in maintaining the high level of customer service we are known for throughout this transition.”



As part of the auction, GA also acquired Cache's intellectual property and lease designation rights for all retail locations. GA is actively engaged regarding a strategy to monetize these assets. Store locations will remain open until all merchandise has been sold. Cache gift cards will be honored through April 5.