Cache, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on August 10, 2015. The debtor seeks the Court's approval for the sale of its Visa/MasterCard claim. To qualify as a qualified bidder, interested parties should submit their bids by August 28, 2015, along with a good faith deposit in the amount equal to 10% of the purchase price.

The debtor has scheduled an auction on August 31, 2015. The bidding at the auction shall start at the purchase price stated in the highest or otherwise best qualified bid as disclosed to all qualified bidders prior to commencement of the auction and then continue in increments to be determined by the debtors in their discretion. The sale hearing is scheduled for September 1, 2015.

The sale will close no later than September 8, 2015. Laura Davis Jones and Joshua Fried of Pachulski Stang Ziehl & Jones LLP acted as legal advisor for debtor.