Body Central Preps for Bankruptcy

Body Central Corp. (Jacksonville, Fla.) is preparing a bankruptcy filing that could come within the next week, Bloomberg has reported.

The company is joining a growing list of mall-based young women’s clothing retailers who are filing bankruptcy or closing stores, including Deb Shops, Delia’s and Wet Seal.

Body Central said it received a notice of default on $18 million in debt and is assessing strategic alternatives.

The company, which operates 265 stores in 28 states under the Body Central and Body Shop brands, lost $70.2 million in the 12 months ended in September and had only $4.5 million in cash and equivalents as of Nov. 3., according to Bloomberg.