Solavei asks court to approve two-month extension of exclusive periods

By Kali Hays

New York, Sept. 30 – Solavei, LLC is seeking an extension of its exclusive plan of reorganization filing and solicitation periods, according to a Sept. 29 motion with the U.S. Bankruptcy Court for the Western District of Washington.

The company asked that its exclusive filing period be extended through Dec. 15 from Oct. 9 and its solicitation period through Feb. 20 from Dec. 8.

Solavei said that since filing for bankruptcy, it has rolled out a revised business plan that has “received a very enthusiastic response” and as a result, expects “a gradual uptick in customers,” according to the motion.

With the introduction of the business plan, the company said that “it has become clear interested parties will need to understand the results of the recent changes to Solavei’s plan before they can reach a final decision on a transaction with the company.”

A hearing is scheduled for Oct. 24.

Solavei, a social commerce telecommunications company with headquarters in Bellevue, Wash., filed for bankruptcy on June 11. The Chapter 11 case number is 14-14505.

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