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Wells Fargo Capital Finance Provides $25MM to Cache, Inc.

July 31, 2013, 07:53 AM
Filed Under: Retail

Cache, Inc., a specialty chain of women’s apparel stores, secured a new, five year, $25 million credit facility through Wells Fargo Capital Finance.

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 Cache.”

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.

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