Former Vestis eyes exclusivity extension to align with plan hearings

By Caroline Salls

Pittsburgh, Dec. 1 – VRG Liquidating, LLC, formerly Vestis Retail Group, is seeking a second extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan of liquidation, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

VRG wants to extend its exclusive plan-filing period by 90 days through March 14 and the solicitation period through May 15.

As previously reported, the company and its official committee of unsecured creditors filed a joint plan on Nov. 18. VRG said the disclosure statement approval hearing is scheduled for Jan. 18, and it is seeking a March 1, plan confirmation hearing date.

“The debtors submit that the requested extensions of the exclusive periods are appropriate and in harmony with this confirmation timetable,” the motion said.

A hearing is scheduled for Jan. 18.

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 for bankruptcy on April 18, 2016 under Chapter 11 case number 16-10971.

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