Destination Maternity seeks sixth extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., May 17 – Destination Maternity Corp. is seeking a sixth extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the plan filing period through Aug. 15 from May 17 and the solicitation period through Oct. 17 from July 19.

The company said the complexity of concurrently coordinating with the asset purchaser with respect to the transition services agreement, undertaking a marketing process for a sale for the debtors’ remaining assets and planning an orderly wind down for the debtors’ estates that would maximize value for creditors has required a significant amount of time and energy from the debtors and their advisers.

“Largely due to the current pandemic, these processes are not yet complete,” the company said in its motion.

“As a result, the debtors require additional time for the exclusive periods to allow those processes to complete.”

Destination Maternity is a clothing retailer based in Moorestown, N.J. The company filed bankruptcy on Oct. 21, 2019 under Chapter 11 case number 19-12256.

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