Cache Announces New Credit Facility
Cache, Inc., (NASDAQ:CACH) , a U.S. based multi-channel specialty retailer of women’s apparel and accessories, today announced that it has entered into a new, three year, $30 million revolving credit facility with Salus Capital Partners, LLC. The new facility replaces the Company’s existing $25 million revolving credit facility with Wells Fargo Bank, National Association.
Jay Margolis, Chairman and Chief Executive Officer, commented: “We are pleased to have secured this new credit facility with Salus Capital, which improves our financial flexibility as we continue to implement our turnaround plan to position Cache for profitable growth.”
About Cache, Inc.
Cache is a U.S. based multi-channel specialty retailer of women’s apparel and accessories that sells through its stores and online at cache.com. Through these channels, the Company offers a boutique shopping experience for stylish and fashion-conscious women with a product line consisting of evening wear, event and day dresses, casual sportswear and accessories, primarily sold under the Cache brand. As of September 23, 2014, the Company operated 237 stores located primarily in high-traffic, upscale malls in 43 states in the United States and 2 stores in Puerto Rico and the U.S. Virgin Islands.
Forward-Looking Statements and Other Information
Certain matters discussed within this press release may constitute forward-looking statements within the meaning of the federal securities laws. Although Cache, Inc. believes the statements are based on reasonable assumptions, there can be no assurance that these expectations will be attained. Actual results and timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, without limitation, our ability to successfully implement our business strategy and to integrate new members of management, industry trends, merchandise and fashion trends, competition, seasonality, changes in general economic conditions and consumer spending patterns, factors specific to our Company and merchandise, such as demand for our merchandise and markdowns. Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in our filings with the Securities and Exchange Commission (the “SEC”), including the section of our Annual Report on Form 10-K filed with the SEC on March 25, 2014 titled “Risk Factors.” Except as may be required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and we caution you not to rely upon them unduly.
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