MPC Computers asks for exclusivity extension, determines liquidation best option

By Jennifer Lanning Drey

Portland, Ore., Feb. 27 - MPC Computers, LLC requested an extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend the exclusive plan-filing period by 120 days to July 4 and the solicitation period by the same amount of time to Sept. 2.

MPC said after filing its bankruptcy petition it engaged in diligent efforts to maintain its businesses as a going concern and to find financing or a purchaser for substantially all of its assets.

However, by the end of December, the company had determined that an orderly liquidation of its assets would be in the best interest of all stakeholders.

Accordingly, the company said it has formed a strategy for an orderly liquidation and made strides in its efforts.

However, MPC said until further progress is made in connection with the efforts, formulating and negotiating a plan will distract its remaining workforce from maximizing value in connection with an orderly liquidation.

A hearing is scheduled for March 27.

MPC, a major U.S. PC vendor since 1991, provides enterprise IT hardware services to mid-size businesses, government agencies and education organizations. The company filed for bankruptcy on Nov. 6. Its Chapter 11 case number is 08-12667.

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