Sears Methodist eyes extension of exclusive periods to continue talks

By Kali Hays

New York, Sept. 23 – Sears Methodist Retirement System, Inc. is seeking a 60-day extension of its exclusive Chapter 11 plan filing and solicitation periods, according to a Monday motion with the U.S. Bankruptcy Court for the Northern District of Texas.

The company asked that its exclusive filing period be extended through Dec. 7 from Oct. 8 and its solicitation period through Feb. 5 from Dec. 7.

Sears Methodist and its subsidiaries said the extension will allow the continuation of “extensive negotiations with several interested strategic partners and purchasers concerning a plan of reorganization and/or sale of a portion of the assets,” according to the motion.

Sears Methodist is a Dallas-based non-profit senior living provider that filed for bankruptcy June 10. The Chapter 11 case number is 14-32821.

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