Liquid compositions, which are chemically and physically stable, comprising peroxygen bleach, a crystalline hydroxyl-containing stabilizing agent, perfume microcapsules and more than 10% of surfactant by weight of the total composition. The perfumes microcapsules, preferably, comprise a polymeric outer shell made of the condensation of melamine and formaldehyde. Process for laundering fabrics comprising the step of contacting the fabrics with said bleaching compositions.