UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Cache, Inc.
-----------------
(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
-----------------------------
(Title of Class of Securities)
127150308
---------
(CUSIP Number)
Richard W. Shea, Jr.
Vardon Capital Management, L.L.C.
120 West 45th Street, 17th Floor
New York, NY 10036
(212) 626-6300
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 27, 2007
--------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or
Rule 13d-1(g),, check the following box [X].
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
CUSIP NO. 127150308 SCHEDULE 13D Page 2 of 19
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1. NAME OF REPORTING PERSON Vardon Capital, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* AF OO
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 3 of 19
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Vardon Capital Management, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* AF 00
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,873,381
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,873,381
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,873,381
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.5%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IA
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 4 of 19
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Richard W. Shea, Jr.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* AF OO
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION United States of America
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,873,381
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,873,381
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,873,381
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.5%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 5 of 19
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1. NAME OF REPORTING PERSON Vardon Parners, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 6 of 19
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Vardon Partners II, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 7 of 19
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Vardon International, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 8 of 19
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1. NAME OF REPORTING PERSON Vardon International BP, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 9 of 19
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1. NAME OF REPORTING PERSON Vardon Focus Fund, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 10 of 19
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1. NAME OF REPORTING PERSON Vardon Focus Fund II, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 11 of 19
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Vardon Focus Fund International, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 12 of 19
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Vardon Focus International BP, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 13 of 19
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Vardon Continuum Fund, LP
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 14 of 19
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Vardon Continuum International, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,483,428
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,483,428
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,483,428
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.1%
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 127150308 SCHEDULE 13D Page 15 of 19
Item 1. Security and Issuer
----------------------------
This Schedule 13D relates to shares of common stock, $0.01 par value per share
(the "Common Stock") of Cache, Inc., a Florida corporation (the "Issuer"). The
principal executive office and mailing address of the Issuer is 1440 Broadway,
5th Floor, New York, NY 10018.
Item 2. Identity and Background
--------------------------------
This Schedule 13D is being filed by (i) Vardon Partners, L.P., a Delware limited
partnership; (ii) Vardon Partners II, L.P., a Delaware limited partnership;
(iii) Vardon Focus Fund, L.P., a Delaware limited partnership; (iv) Vardon Focus
Fund II, L.P., a Delaware limited partherhip; (v) Vardon Continuum Fund, L.P., a
Delaware limited partherhip (together the "Domestic Funds"); (vi) Vardon
International, Ltd., a Cayman Islands exempted company; (vii) Vardon
International BP, Ltd., a Cayman Islands exempted company; (viii) Vardon Focus
Fund International, Ltd., a Cayman Islands exempted company; (ix) Vardon Focus
International BP, Ltd., a Cayman Islands exempted company (x) Vardon Continuum
International, Ltd., a Cayman Islands exempted company (together the "Offshore
Funds"); (xi) Vardon Capital, L.L.C., a Delaware limited liability company
("VC"), with respect to shares of Common Stock held in the Domestic Funds; (xii)
Vardon Capital Management, L.L.C., a Delaware limited liability company an SEC
registered Investment Adviser ("VCM"), with respect to shares of Common Stock
held in the accounts of the Domestic Funds, Offshore Funds and certain other
separate account clients managed by VCM (the "Managed Accounts", and together
with the Domestic Funds and Offshore Funds, the "Advisory Clients") for which
VCM serves as the investment manager and (xiii) Richard W. Shea, Jr. ("Mr.
Shea"), the sole managing member of VC and VCM, with respect to shares of Common
Stock deemed to be beneficially owned by VC and VCM. The Domestic Funds, the
Offshore Funds, VC, VCM and Mr. Shea will be collectively referred to herein as
"Reporting Persons". All disclosures made in this filing are made pursuant to
the best knowledge and reasonable belief of the Reporting Persons.
The Domestic Funds, as defined above, are each Delaware limited partnerships
with a principal business office address of 120 West 45th Street, 17th Floor,
New York, NY 10036.
The Offshore Funds, as defined above, are each Cayman Islands exempted companies
with a principal business office address of Admiral Financial Center, P.O. Box
32021 SMB, 90 Fort Street, Grand Cayman, Cayman Islands, B.W.I.
VC is a Delaware limited liability company, which serves as general partner of
the Domestic Funds, as outlined above. The sole managing member of VC is Mr.
Shea.
The principal business office address of VC is 120 West 45th Street, 17th Floor,
New York, NY 10036.
CUSIP NO. 127150308 SCHEDULE 13D Page 16 of 19
VCM is a Delaware limited liability company which serves as the investment
manager to the Advisory Clients, as outlined above.
VCM is registered with the U.S. Securities and Exchange Commission as an
investment adviser under the U.S. Investment Advisers Act of 1940, as amended.
The sole managing member of VCM is Mr. Shea.
The principal business office address of VCM is 120 West 45th Street, 17th
Floor, New York, NY 10036.
Mr. Shea, the sole managing member of VC and VCM, is a citizen of the United
States of America.
The principal business office address of Mr. Shea is 120 West 45th Street, 17th
Floor, New York, NY 10036.
To the best knowledge of the Reporting Persons, none of the entities or persons
identified in this Item 2 has, during the past five years, been convicted of any
criminal proceeding (excluding traffic violations or similar misdemeanors), nor
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
----------------------------------------------------------
The source of funds for the purchases of 1,873,381 shares beneficially owned by
VCM and Mr. Shea was $33,506,981,representing the working capital of the
Advisory Clients listed in item 2 above.
The source of funds for the purchases of 1,483,428 shares beneficially owned by
VC was $26,653,960, representing the working capital of the the Domestic Funds
and the Offshore Funds listed in item 2 above.
CUSIP NO. 127150308 SCHEDULE 13D Page 17 of 19
Item 4. Purpose of Transaction
-------------------------------
The purpose of the acquisition of the Common Stock is for investment, and the
acquisitions of the Common Stock were made in the ordinary course of business
and were not made for the purpose of acquiring control of the Issuer.
Although no Reporting Person has any specific plan or proposal to acquire or
dispose of the Common Stock, consistent with its investment purpose, each
Reporting Person at any time and from time to time may acquire additional Common
Stock or dispose of any or all of its Common Stock depending upon an ongoing
evaluation of the investment in the Common Stock, prevailing market conditions,
other investment opportunities, liquidity requirements of the Reporting Persons
and/or other investment considerations.
Also, consistent with the investment purpose of the Reporting Persons, the
Reporting Persons have and may continue to engage in communications with one or
more shareholders of the Issuer, one or more officers of the Issuer and/or one
or more members of the board of directors of the Issuer and/or one or more
representatives of the Issuer regarding the Issuer, including but not limited to
the buyback by the Issuer of its common shares in the open market and such other
issues which are consistent with the Reporting Persons investment philosophy and
objectives. It should be specifically noted that the Reporting Persons sent a
letter to the Issuer on July 27, 2007 requesting that the Issuer buyback certain
amounts of its common shares in the open market. A copy of the letter is
attached hereto as Exhibit B.
Except to the extent the foregoing may be deemed a plan or proposal, or as
otherwise stated above as it relates to Item 4(d) of Schedule 13D, none of the
Reporting Persons has any plans or proposals which, as of the date hereof,
relate to, or could result in, any of the matters referred to in paragraphs (a)
through (c) or (e) through (j),inclusive, of the instructions to Item 4 of
Schedule 13D. The Reporting Persons may, at any time and from time to time,
review or reconsider their position and/or change their purpose and/or formulate
plans or proposals with respect thereto.
Item 5. Interest in Securities of the Issuer
---------------------------------------------
(a), (b) According to the Issuer's most recent Form 10-Q, there were 16,296,733
shares of Common Stock issued and outstanding as of April 30, 2007. Based on
such information, after taking into account the transactions described in Item
5(c) below, the Reporting Persons report beneficial ownership of the following
shares of Common Stock:
(i) 1,483,428 shares of Common Stock held by VC on behalf of the Domestic Funds
and Offshore Funds represents 9.1% of the outstanding shares of the Common Stock
and (ii) 1,873,381 shares of the Common Stock held by VCM on behalf of the
Advisory Clients for which it serves as the investment manager, which represents
11.5% of the outstanding shares of the Common Stock. Each Advisory Client has an
investment management arrangement with VCM, but no Advisory Client has any
contract, arrangement or understanding with any other Reporting Person, with
respect to the acquisition, ownership, disposition or voting of any shares of
the Common Stock of the Issuer.
CUSIP NO. 127150308 SCHEDULE 13D Page 18 of 19
Voting and investment power concerning the above shares are held solely by VC
and VCM. The Reporting Persons therefore may be deemed to be members in a group,
in which case the group would be deemed to have beneficial ownership of an
aggregate of 1,873,381 shares of the Common Stock, which is 11.5% of the
outstanding Common Stock. As the sole managing member of VC and VCM, Mr. Shea is
deemed the beneficial owner of the securities over which VC and VCM has voting
and investment power.
Although Mr. Shea is joining in this Schedule as a Reporting Person, the filing
of this Schedule shall not be construed as an admission that he, or any of the
other shareholders, directors or executive officers of either VC or VCM, is, for
any purpose, the beneficial owner of any of the securities that are beneficially
owned by VC, VCM, the Domestic Funds or the Offshore Funds.
c) During the last 60 days, the Reporting Persons purchased or sold the
following shares of Common Stock:
Entity Trade Date Shares Price/Share Transaction
------ ---------- ------ ----------- -----------
The Managed Account clients 06/14/2007 30000 14.02 Sale
for which VCM serves 06/15/2007 47518 14.17 Sale
as investment manager. 06/18/2007 12495 14.33 Sale
06/19/2007 5000 14.26 Sale
06/20/2007 5000 14.07 Sale
06/21/2007 5000 13.86 Sale
06/22/2007 5000 13.77 Sale
06/25/2007 5000 13.72 Sale
06/26/2007 5313 13.71 Sale
06/27/2007 5000 13.71 Sale
06/28/2007 6000 13.69 Sale
06/29/2007 1900 13.58 Sale
06/29/2007 18100 13.66 Sale
(d) and (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
-----------------------------------------------------------------------------
The Reporting Persons may be deemed to be members of a group for purposes of
Section 13(d) of the Exchange Act of 1934. None of the Reporting Persons or, to
the best knowledge of the Reporting Persons, the other persons named in Item 2,
is a party to any contract, arrangement, understanding or relationship with
respect to any securities of the Issuer, including but not limited to the
transfer or voting of any securities of the Issuer, finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits
-----------------------------------------
Exhibit A -- Joint Filing Undertaking.
Exhibit B -- Buyback Initiation Letter from the Reporting Persons dated July 27,
2007.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: July 30, 2007
Vardon Partners, L.P. Vardon Partners II, L.P.
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
as managing member of the as managing member of the
general partner general partner
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Managing Member of Managing Member of
the General Partner the General Partner
Vardon Focus Fund, L.P. Vardon Focus Fund II, L.P.
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
as managing member of the as managing member of the
general partner general partner
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Managing Member of Managing Member of
the General Partner the General Partner
Vardon Continuum Fund, L.P. Vardon Continuum International, Ltd.
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
as managing member of the as director
general partner
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Managing Member of Director
the General Partner
Vardon International, Ltd. Vardon International BP, Ltd.
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
as director as director
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Director Director
Vardon Focus Fund Vardon Focus International BP, Ltd.
International, Ltd. By: Richard W. Shea, Jr.
By: Richard W. Shea, Jr. as director
as director
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Director Director
Vardon Capital, L.L.C. Vardon Capital Management, L.L.C
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
its managing member its managing member
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Managing Member Managing Member
RICHARD W. Shea, Jr.
By: /s/ Richard W. Shea, Jr.
-------------------------------
Richard W. Shea, Jr.
Individually
CUSIP NO. 127150308 SCHEDULE 13D
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby executes this agreement
as an exhibit to this Schedule 13D with respect to the shares of Common Stock of
Cache, Inc., par value $0.01 per share, to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, as amended, to file this Schedule 13D jointly
on behalf of each such party.
Dated: July 30, 2007
Vardon Partners, L.P. Vardon Partners II, L.P.
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
as managing member of the as managing member of the
general partner general partner
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Managing Member of Managing Member of
the General Partner the General Partner
Vardon Focus Fund, L.P. Vardon Focus Fund II, L.P.
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
as managing member of the as managing member of the
general partner general partner
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Managing Member of Managing Member of
the General Partner the General Partner
Vardon Continuum Fund, L.P. Vardon Continuum International, Ltd.
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
as managing member of the as director
general partner
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Managing Member of Director
the General Partner
Vardon International, Ltd. Vardon International BP, Ltd.
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
as director as director
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Director Director
Vardon Focus Fund Vardon Focus International BP, Ltd.
International, Ltd. By: Richard W. Shea, Jr.
By: Richard W. Shea, Jr. as director
as director
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Director Director
Vardon Capital, L.L.C. Vardon Capital Management, L.L.C
By: Richard W. Shea, Jr. By: Richard W. Shea, Jr.
its managing member its managing member
By: /s/ Richard W. Shea, Jr. By: /s/ Richard W. Shea, Jr.
------------------------------- -----------------------------------
Richard W. Shea, Jr. Richard W. Shea, Jr.
Managing Member Managing Member
RICHARD W. Shea, Jr.
By: /s/ Richard W. Shea, Jr.
-------------------------------
Richard W. Shea, Jr.
Individually
CUSIP NO. 127150308 SCHEDULE 13D
Exhibit B
Buyback Initiation Letter from the Reporting Persons.
July 27, 2007
Mr. Brian Woolf
1440 Broadway
New York, New York 10018
Dear Mr. Woolf:
Vardon Capital Management, LLC through its funds and managed accounts currently
owns 1,873,381 shares of Cache, Inc's common stock. We urge the Board to call a
special board meeting and initiate a stock buyback program to aggressively buy
back shares through the open market. While we applaud the management's recent
initiatives, including the acquisition of Adrienne Victoria, the implementation
of a direct sourcing initiative, and the launch of a new marketing/loyalty
program, we believe that these initiatives are not appreciated by the public
market. The company is currently trading at approximately two-thirds its private
market value and its balance sheet has approximately $66 million in cash or four
dollars of cash per share. We believe that a $25 million stock buyback,
representing approximately 10% buyback at current trading price, is an effective
method of maximizing long-term shareholder value. After implementing a stock
buyback, the company will still have approximately two to three dollars of cash
per share on its balance sheet assuming 15 million shares outstanding. This does
not include the additional cash that would be added to the balance sheet from
operating cash flows over time. We believe that the Company's mid-single digit
operating margin level has the potential to reach double digit levels through
the initiatives mentioned above. By initiating a 10% buyback and helping to
mitigate some of the macro headwinds, the Company can demonstrate its confidence
in its current initiatives by purchasing its stock at current levels. We hope
you agree that it is time to reward long-term shareholders given the last year
of transition and the earnings potential of the company going forward. Thank you
for your attention regarding this matter.
Sincerely yours,
Richard Shea
Principal
Vardon Capital Management, LLC
cc: Andrew M. Saul, Director
cc: Morton J. Schrader, Director
cc: Arthur S. Mintz, Director
cc: Gene G. Gage, Director
SK 03088 0008 797546