Caché Files for Bankruptcy

Women’s clothing retailer Caché (New York) filed for bankruptcy Wednesday, and announced that the company plans to continue to operate while it seeks a strategic partner and reduces the number of its stores.

In a statement, ceo Jay Margolis cited “the depressed brick-and-mortar retail market, the continued growth of online shopping, and rapidly changing consumer tastes and habits” for the company’s failed attempts to turn its business around.

Caché currently operates 218 stores and is in default of about 50 commercial leases, according to Consumerist.