Former Vestis Retail Group wins extension, working on consensual plan

By Caroline Salls

Pittsburgh, Aug. 23 – VRG Liquidating, LLC, formerly Vestis Retail Group, obtained an extension of its exclusive periods to file and solicit votes on a plan of liquidation, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive plan-filing and solicitation periods were extended by 120 days through Dec. 14 and Feb. 14, respectively.

VRG said it is working with the official committee of unsecured creditors appointed in its case and the buyer of its assets to bring the cases to a conclusion through a consensual plan providing for the administration of the purchase price and the assets not covered by the sale.

According to the motion, the requested extension is “both appropriate and necessary to facilitate this process.”

Meriden, Conn.-based Vestis was formed by Versa Capital Management, LLC and operates retailers Eastern Mountain Sports, Bob’s Stores and Sport Chalet. The company filed bankruptcy on April 18 under Chapter 11 case number 16-10971.

© 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.