The U.S. Bankruptcy Court approved hhgregg’s motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including November 6, 2017 and January 5, 2018, respectively.
As previously reported, “While the Debtors have sold substantially all of their assets, they are still working diligently to address issues between creditor constituencies and complete their wind down. Continued efforts on these fronts could fundamentally change any plan that is proposed and could significantly impact the speed at which such plan could be confirmed. Accordingly, the Debtors require additional time to formulate and propose a plan in these cases. In light of the Debtors’ substantial and diligent progress toward the wind-down of their estates in order to maximize the value of the assets for their creditors, the Debtors seek an order further extending the Exclusive Filing Period and the Exclusive Solicitation Period each by 60 days.”
In addition, “Under applicable law, the exclusive plan filing and solicitation periods can and should be extended where the Debtors have made, and are continuing to make, significant progress toward a successful use of the chapter 11 process.”
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