Cache Announces New Credit Facility with Wells Fargo Capital Finance
NEW YORK -- July 30, 2013
Cache, Inc., (NASDAQ: CACH), a specialty chain of women’s apparel stores,
announced it has secured a new, five year, $25 million credit facility through
Wells Fargo Capital Finance, part of Wells Fargo & Company, (NYSE: WFC).
Jay Margolis, Chairman and Chief Executive Officer, commented: “We are pleased
to partner with Wells Fargo Capital Finance to secure a credit facility. This
facility enhances our financial flexibility to pursue our key initiatives that
are expected to drive improvement in our operating performance and place us on
a path to deliver sustained long term growth.”
“Cache is a strong brand with a loyal following and I am delighted to have
Wells Fargo participate in this credit facility and assist the Company to
realize its goals and objectives,” said Keith Vercauteren, senior managing
director and division manager of the Retail Finance division at Wells Fargo
Capital Finance. “ We look forward to building a long term relationship with
About Cache, Inc.
Cache is a nationwide, mall-based specialty retailer of sophisticated
sportswear and social occasion dresses targeting style-conscious women who
have a youthful attitude and are self-confident. The Company currently
operates 250 stores, primarily situated in central locations in high traffic,
upscale malls in 41 states, the Virgin Islands and Puerto Rico.
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, as well as other risks outlined from time to time in the filings of
Cache, Inc. with the Securities and Exchange Commission.
About Wells Fargo Capital Finance.
Wells Fargo Capital Finance is the trade name for certain asset-based lending,
accounts receivable and purchase order finance services of Wells Fargo &
Company and its subsidiaries, and provides traditional asset-based lending,
specialized senior and junior secured financing, accounts receivable
financing, purchase order financing and channel finance to companies across
the United States and internationally. Dedicated teams within Wells Fargo
Capital Finance provide financing solutions for companies in specific
industries such as retail, software publishing and high-technology, commercial
finance, staffing, government contracting and others. For more information,
For Cache, Inc.
Allison Malkin/Rachel Schacter
203-682-8225 / 646-277-1243
For Wells Fargo Bank
Trisha Schultz, 310-453-8232
Press spacebar to pause and continue. Press esc to stop.