Former Vestis Retail Group seeks extension, working on consensual plan

By Caroline Salls

Pittsburgh, Aug. 4 – VRG Liquidating, LLC, formerly Vestis Retail Group, is seeking an extension of its exclusive periods to file and solicit votes on a plan of liquidation, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing and solicitation periods by 120 days through Dec. 14 and Feb. 14, 2017, respectively.

VRG said it is working with the official committee of unsecured creditors appointed in its case and the buyer of its assets to bring the cases to a conclusion through a consensual plan providing for the administration of the purchase price and the assets not covered by the sale.

According to the motion, the requested extension is “both appropriate and necessary to facilitate this process.”

A hearing is scheduled for Sept. 12.

Meriden, Conn.-based Vestis was formed by Versa Capital Management, LLC and operates retailers Eastern Mountain Sports, Bob’s Stores and Sport Chalet. The company filed bankruptcy on April 18 under Chapter 11 case number 16-10971.

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