Former Vestis requests fourth exclusivity extension to evaluate claims

By Caroline Salls

Pittsburgh, June 7 – VRG Liquidating, LLC, formerly Vestis Retail Group, requested a fourth extension to its exclusive periods to file and solicit votes on a Chapter 11 plan of liquidation, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

VRG is requesting that the exclusive plan-filing period be extended through Oct. 18 from June 12 and the solicitation period be extended through Dec. 18 from Aug. 14.

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 proceeding with an amended plan and disclosure statement, VRG said it has determined that it is first necessary to complete an analysis and reconciliation of the administrative expense claims and priority claims that have been filed to date and, where appropriate, to object to those claims.

The company said it has begun filing claims objections and notices of satisfaction, and it expects to file additional claims objections in the coming days.

A hearing on the extension is scheduled for July 17.

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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