Quaker Fabric seeks one-month exclusivity extension to finalize plan details

By Caroline Salls

Pittsburgh, May 20 - Quaker Fabric Corp. is seeking a one-month 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.

Specifically, the company wants to extend its exclusive plan-filing period to June 18 from May 19 and the solicitation period to Aug. 18 from July 17.

If approved, this would be the company's fifth exclusivity extension.

According to the motion, Quaker Fabric and its official committee of unsecured creditors are still working out the details of their joint plan of liquidation.

Quaker Fabric said the committee has agreed to the requested extension.

A hearing is scheduled for June 13.

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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