NEW YORK (AP) — Women’s clothing retailer Cache says it is filing for Chapter 11 bankruptcy protection after running out of time and money to complete a turnaround.

The New York company Cache Inc. sells dresses, sportswear and accessories and runs 218 stores. They have two stores in Kansas City area and two in Missouri.

Cache Inc. says it will continue operating its business, and it has secured a commitment for up to $22 million in financing from Salus Capital Partners. The company plans to continue closing stores and selling or renegotiating some of its leases.

It also will seek a so-called stalking horse buyer for its assets. That involves a potential buyer making an initial offer to set the floor for an auction that invites competitive bids.

Its shares closed at 5 cents on Tuesday. The stock will be removed from the Nasdaq exchange.