Caché, a nationwide, specialty retailer for women's' accessories, apparel, and formalwear filed for Chapter 11 bankruptcy protection on Wednesday in Delaware. This Chapter 11 filing came just months after Wet Seal filed for bankruptcy in December of 2014.

On its Chapter 11 petition filed in the U.S. Bankruptcy Court in Wilmington, Del., Caché listed its liabilities between $50 and $100 million, and its assets between $10 and $50 million.

Caché currently has 218 stores; the women's retailer plans to close some of those stores and renegotiate its leases. According to Caché, it has secured an offer from liquidators at Tiger Capital Group and SB Capital Group LLC, both of which could be challenged by higher offers at a bankruptcy auction.

If Caché is unable to find a buyer who is willing to keep the stores afloat, it plans to sell the rights to its name. In reference to filing the bankruptcy, Caché Chairman and Chief Executive Jay Margolis said it was done "with the goal of securing Caché's future."

About Caché

In 1976, the first Caché boutique was opened in Miami, Florida. The store was one of the first to bring iconic brands such as Armani, Versace, and Mugler to the United States. In a poorly-timed move, between 1999 and 2006, the company nearly doubled its number of stores reaching 306 locations. During this time it put more focus on sportswear, which ultimately harmed the brand.

Caché has not turned a profit since 2011, and in fiscal 2012, the company recorded $12.1 million in losses, and $34.4 million in losses for 2013, the filing shows. Caché expects to lose $32.7 million in 2014.

In the past few months alone, Delia's Inc., Wet Seal Inc., and Deb Shops have all sought protection under Chapter 11. It has been a difficult time for women's retailers in the changing economy.