Pacific Sunwear of California 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 November 3, 2016 and January 2, 2017, respectively.
The motion explains, “The Debtors request, entry of an order extending by approximately 90 days the periods within which only the Debtors may file a chapter 11 plan and solicit acceptances thereof. Although the Plan has been filed and solicited, and the Debtors will seek its confirmation at the hearing currently scheduled for August 10, 2016, the Debtors seek the extension requested herein to preserve their exclusivity in the event that the Plan is not confirmed and/or unexpected issues or objections arise in connection therewith.”
The Court scheduled an August 23, 2016 hearing on the motion, with objections due by August 16, 2016. Read more PacSun retail bankruptcy news.
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