Former iMedia Brands receives extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Oct. 31 – Legacy IMBDS, Inc., formerly known as iMedia Brands, Inc., secured a 75-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the exclusive plan filing period through Jan. 9 and the exclusive solicitation period through March 10.

The company filed a plan and disclosure statement in early October.

While the debtors expect to have obtained confirmation of the plan before the expiration of the current exclusive solicitation period, the company said it sought the extension out of an abundance of caution.

iMedia Brands is an interactive media company based in Eden Prairie, Minn. The company filed bankruptcy on June 28 under Chapter 11 case number 23-10852.

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