Do Good Foods seeks 90-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Oct. 16 – KDC Agribusiness LLC, which does business as Do Good Foods, is seeking a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the exclusive plan filing period through Jan. 16 and the exclusive solicitation period through March 12.

The court approved bid procedures for the company’s assets in July. On Sept. 8, the debtors adjourned certain key dates and deadlines to provide additional time for them to continue their marketing process and explore value maximizing transactions.

The debtors have also litigated several contested matters and an adversary proceeding with California Safe Soil, LLC (CSS), including CSS’ motion to lift the automatic stay.

On Aug. 10, the court issued a bench ruling granting the lift-stay motion, and on Aug. 18, it entered an order memorializing the ruling.

Following the entry of the lift stay order, the debtors and their professionals have worked to chart a go-forward path for the debtors and the Chapter 11 cases, the company said.

KDC Agribusiness is a food waste recycling company based in Bedminster, N.J. The company filed bankruptcy on June 14 under Chapter 11 case number 23-10786.

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