Former FTD secures 60-day exclusivity extension ahead of plan hearing

By Caroline Salls

Pittsburgh, Dec. 17 – GUE Liquidation Cos., Inc., formerly FTD, Inc., obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, GUE’s exclusive plan-filing period was extended through Jan. 31 from Dec. 2 and the solicitation period through March 31.

As previously reported, the company filed initial and amended plans of liquidation, and the plan confirmation hearing is scheduled for Dec. 18.

If the plan is confirmed, GUE said it expects to exit Chapter 11 by the end of the year, within a month of the previous exclusive filing-period deadline.

“To allow the exclusive periods to lapse and permit parties to file competing plans invites delay of the resolution of these Chapter 11 cases while unnecessarily increasing administrative expenses, which could result in the debtors’ administrative insolvency and inability to confirm any plan of liquidation,” the motion said.

FTD is a floral wire service based in Downers Grove, Ill. The company filed bankruptcy on June 3, 2019 under Chapter 11 case number 19-11240.

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