Quaker Fabric granted one-month exclusivity extension

By Caroline Salls

Pittsburgh, March 4 - Quaker Fabric Corp. received a one-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to March 19 from Feb. 18 and the solicitation period to May 18 from April 18.

Quaker Fabric said its official committee of unsecured creditors has agreed to the extension.

According to the motion, the company has 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.

Quaker Fabric, a Fall River, Mass., designer, manufacturer and marketer of woven upholstery fabrics for residential furniture, filed for bankruptcy on Aug. 16, 2007. Its Chapter 11 case number is 07-11146.

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