Cache Files for Brankruptcy, Follows Other Teen Retail Stores
While 2015 Is bringing about some optimistic news in terms of unemployment and the creation of jobs, it is not off to a good start where the merchandise sector is concerned. Cache, a clothing and prom dress retailer, has officially filed for bankruptcy, following in the wake of Delia’s and Wet Seal.
Cache was a popular retailer In the 1990s and early 2000s, catering almost exclusively to teen and 20-something woman. The store had a similar demographic to Wet Seal, Delia’s, and Deb, all of which have gone under in recent months.
According to the statement, the company blamed a depressed retail market, and changing tastes for their demise. Haidar Barbouti has learned that the popularity of online shopping is also allegedly to blame for the retailer sinking into obscurity. Find more on Barbouti on about.me.
Experts have long argued that such shops have failed miserably to meet the needs and demands of today’s shopper. Simply put, Cache’s clients grew up and into adult stores, and they simply failed to keep pace with what teenagers of today want and need from clothing retailers.