Dive Brief:

• Teenage clothing retailer Delia's said it will file for Chapter 11 bankruptcy protection after being unable to find a buyer, according to a statement the company released on Friday. 
• The retailer will liquidate all merchandise and has entered into an agreement to dispose of all assets. 
• Delia's said in September that it was exploring a sale or merger, hinting then that it may not have enough cash to last the year. 

Dive Insight:

Once popular in the 1990s thanks to its catalog business, Delia's, which went on to open stores catering to its teenage girl following, has been hurt by declining sales and a decrease in mall traffic. With younger crowds showing increased interest in fast-fashion and unique trends, it looks like it took the retailer too long to adapt to the shifting demands of its customer base.