Board members of WCI learned the lesson of greed when they rejected Carl Icon’s Billion dollar offer to buy the company. The company filed for bankruptcy not long after. It seems it’s Cache’s turn to learn this powerful lesson. Mr. Saul may soon bring Cache back to the place he found it, a more educated man never the less.
Yes, this is the most incompetent management team in retail today. It should have been replaced long ago. They made so many amateur mistakes like, wasting all their cash by buying their own stock and $14 a share and then refusing to buy it when it was $2. Always quickly discounting merchandise at 40% off. Not even having store traffic counters in the stores. Running a spam email campaign that sends out email almost every day to customers which simply makes them block the email. Then there is this lawsuit to top things off. They are also refusing to deal with competent interested parties like Mr. Price that has acquired over 10 % of the company. Mr. Saul is so busy doing other things with his life he is just letting this company self destruct without any regard for other shareholders.