CACHÉ STOCK DELISTING: Caché Inc. said in a regulatory filing Thursday with the Securities and Exchange Commission that it has received a notice of delisting of its stock from the Nasdaq Global Select Market. Unless the company requests an appeal, shares of Caché will be suspended on the opening of business on Thursday.
The company, moving closer to a bankruptcy filing, has been in talks with various firms to take on the role of stalking-horse bidder as part of a Chapter 11 filing. Those firms include asset disposition firms, a source said. That agreement would, at the very least, set the floor for anyone else coming in with a competing offer, including the possibility of someone buying the chain as a going concern.
Caché said last month that it was considering strategic options.
Further, the retailer said in the same SEC filing on Thursday that on Jan. 23 it accepted the resignation of Michael F. Price, who runs hedge fund MFP Partners LP, from his position as a board member. Price had been on the board since 2013.