CACHÉ Inc. Files For Chapter 11 Relief - Quick Facts

(RTTNews) - CACHÉ Inc. (CACH), a national omni-channel specialty retailer of women's apparel and accessories, announced that it has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. As part of its contingency planning, the company and its representatives have sought proposals from experienced liquidators to serve as a stalking horse purchaser of the company's assets. The company anticipates that its assets will be insufficient to satisfy all of obligations to creditors. Accordingly, it is expected that no distributions will be made to holders of the company's common stock.

The company said it intends to further reduce store count and sell and renegotiate certain of its leases.

On January 27, 2015, CACHÉ received a NASDAQ letter informing the company that delisting procedures have been commenced. The company said it does not intend to appeal the NASDAQ determination.