Gibson Brands seeks exclusivity extension, cites confirmation timeline

By Caroline Salls

Pittsburgh, Aug. 30 – Gibson Brands, Inc. is seeking an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, Gibson is asking the court to extend its exclusive filing period by 90 days through Nov. 27 and the solicitation period through Jan. 28.

As previously reported, the company has filed a plan and obtained court approval of the related disclosure statement.

Although it believes the plan will be confirmed at a Sept. 27 hearing, Gibson said it is requesting the extension “to preserve all rights in the event the plan is not confirmed within the current exclusivity periods to ensure sufficient time to maximize value for all stakeholders.”

A hearing is scheduled for Sept. 27.

Gibson Brands is a Nashville-based maker of musical instruments and consumer and professional audio. The company filed bankruptcy on May 1 under Chapter 11 case number 18-11025.

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