Former Vestis requests exclusivity extension to evaluate claims

New York, March 9 – VRG Liquidating, LLC, formerly Vestis Retail Group, asked for a third extension to its exclusive periods to file and solicit 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 is requesting that the exclusive plan-filing period be extended by 90 days to June 12 from March 14 and the solicitation period be extended by the same period to Aug. 14 from May 15.

The company has already filed a plan of liquidation and a disclosure statement.

But at a hearing on Jan. 11, the court asked for some revisions.

Before making the changes, the company and the official committee of unsecured creditors decided that it was first necessary to set an administrative expense bar date and to analyze administrative expense and priority claims. A deadline of April 14 is proposed.

The court will hold a hearing on that request on March 22.

An extension will allow these claims to be analyzed, VRG said in its request for more time.

A hearing on the extension is scheduled for April 4.

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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