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Hancock Fabrics Bankruptcy Liquidation Plan Filed

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Hancock Fabrics filed with the U.S. Bankruptcy Court a Second Amended Joint Chapter 11 Plan of Liquidation and related Disclosure Statement.

According to the Disclosure Statement, “All Wells Fargo Prepetition Claims are deemed to have been satisfied in full by the entry of the final DIP Order and the payment of any amounts required thereunder, and the Debtors do not anticipate further distributions to holders of Allowed Wells Fargo Prepetition Claims under this Plan. A separate subclass shall be created for each Debtor, Classes 2A through 2G. All GACP Prepetition Claims are deemed to have been satisfied in full by the entry of the final DIP Order and the payment of any amounts required thereunder, and the Debtors do not anticipate further distributions to holders of Allowed GACP Prepetition Claims under this Plan. A separate subclass shall be created for each Debtor, Classes 3A through 3G.”

In addition, “All Noteholder Prepetition Claims are deemed to have been satisfied in full by the entry of the Cash Collateral Order and the payment of any amounts required thereunder, and the Debtors do not anticipate further distributions to holders of Allowed Noteholder Prepetition Claims under this Plan. A separate subclass shall be created for each Debtor, Classes 4A through 4G.”

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The post Hancock Fabrics Bankruptcy Liquidation Plan Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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