Quaker Fabric seeks four-month exclusivity extension to finalize plan

By Caroline Salls

Pittsburgh, Dec. 10 - Quaker Fabric Corp. requested an extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to April 14 from Dec. 14 and the solicitation period to June 11, 2008 from Feb. 12.

According to the motion, the company has sold its assets, launched a wind down of its operations, completed a draft of its liquidating plan and sent the draft to the official committee of unsecured creditors for review.

However, Quaker Fabric said its needs more time to finalize the plan.

A hearing is scheduled for Jan. 18.

Quaker Fabric, a Fall River, Mass., designer, manufacturer and marketer of woven upholstery fabrics for residential furniture, filed for bankruptcy on Aug. 16. Its Chapter 11 case number is 07-11146.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.