Women's Clothing Retailer Cache is Liquidating and Closing All Stores
Posted on March 12, 2015
Cache is liquidating and closing all of its stores. Going out of business sales are underway with discounts of 20% to 50% off already discounted prices.
Cache is a women's clothing store with a flagship presence in some U.S. malls. The retailer has stores in 41 U.S. states as well as Puerto Rico and the Virgin Islands. It was first founded as a boutique by Brooklyn-born homemaker Marilyn Rubinson. Cache says Marilyn was the first to bring Mugler, Armani and Versace fashions to the U.S.
The going out of business sales are being run by B. Riley Financial's Great American Group. They will manage the closing sales at all 153 Cache locations. Great American Group also acquired Cache's intellectual property and lease designation rights.
Cache had said in a release last December that it was reviewing its strategic alternatives including a merger or sale. They ended up having to liquidate a couple months later.
Jay Margolis, CEO of Cache, says in a statement, "For over thirty years, we've built a reputation of providing a premier boutique shopping experience that caters to fashion-conscious women. 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."