Advantage Holdco gets 120-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Feb. 8 – Advantage Holdco, Inc. secured a 120-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 plan filing period through May 14 and the solicitation period through June 21.

“The relief requested herein will facilitate the debtors’ efforts by providing the debtors with a full and fair opportunity to resolve open case issues, evaluate certain administrative and priority claims, and formulate, draft, and propose a plan without the distraction of ill-formed competing plans,” the company said in its motion.

Advantage Holdco is an Orlando, Fla.-based rental car company. The company filed bankruptcy on May 26, 2020 under Chapter 11 case number 20-11259.

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