hhgregg filed with the U.S. Bankruptcy Court a motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including February 5, 2018 and April 5, 2018, respectively.
The motion explains, “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 90 days. 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.”
In addition, “The Debtors respectfully submit that, under the relevant facts and circumstances, the requested extension of the Exclusive Periods will not prejudice the legitimate interests of any creditor and will, in fact, afford the parties the opportunity to pursue to fruition the beneficial objectives of a confirmable plan of liquidation.”
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