Sizmek secures exclusivity extension to work toward consensual plan

By Caroline Salls

Pittsburgh, July 25 – Sizmek Inc. obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, Sizmek’s exclusive plan-filing period was extended by 32 days through Aug. 30 and the solicitation period by 33 days through Oct. 28.

“Since the beginning of these Chapter 11 cases, just over three months ago, debtors have focused on, and made significant strides to, maximize the value of their assets for the benefit of their estates,” the motion said.

“In this short amount of time, debtors have made substantial progress, but significant works remains to be done.”

As a result, the company said it is seeking a short exclusivity extension to allow it to continue working toward its goal of confirming a consensual, value-maximizing plan.

Sizmek is a New York-based independent buyside advertising platform. The company filed bankruptcy on March 29 under Chapter 11 case number 19-10971.

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