Cache Inc.'s unsecured creditors dropped a bid to force the liquidating women's retailer into a chapter 7 bankruptcy after reaching concessions with the company and its secured lender, Salus Capital Partners, Dow Jones Daily Bankruptcy Review reported today. Through a deal reached just minutes before a court hearing yesterday, Salus has agreed to set aside $800,000 from what otherwise would have been its cash collateral to help pay creditors. The money will fund stub rent claims owed to Cache's now-former landlords as well as pay suppliers for goods delivered in the 20 days prior to Cache's bankruptcy filing.
