- A view of a Cache store at The Shops at Columbus Circle in Midtown Manhattan
- Sara Randazzo
For bargain hunters, prom-dress shopping may be starting early this year.
Cache, a women’s dress and formalwear retailer
, is about to launch going-out-of-business sales at its more than 150 stores nationwide, the company told a bankruptcy judge this week.
The latest in an increasingly long line
of troubled women’s retailers to seek chapter 11 protection, Cache started its run through bankruptcy hoping to find a buyer willing to keep some stores alive. That aspiration ultimately failed, though a 25-hour auction did drive up the price of the company’s remaining assets.
An attorney for Cache told a judge Tuesday that the marathon auction, which lasted all day Monday and through the night, is expected to bring in $18 million for creditors.