Phoenix seeks exclusivity extension as it transfers sold businesses

By Angela McDaniels

Tacoma, Wash., Sept. 16 – Phoenix Brands LLC requested 120-day extensions of its periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company asked the court to extend its exclusive plan-filing period to Jan. 14 from Sept. 16 and the solicitation period to March 15 from Nov. 15.

The company has sold its three business units. Transitioning the businesses to their new owners has been “unexpectedly difficult,” the company said, and the company’s legal and financial advisory professionals need input and material from the management team involved in the transitions.

One business has now been fully transitioned, freeing up some of the team’s time, and the company believes it will be able to file its plan and disclosure statement shortly.

A hearing is scheduled for 11 a.m. ET on Oct. 20.

Stamford, Conn.-based Phoenix Brands sources, manufactures and distributes laundry and fabric care products. The company filed for bankruptcy on May 19 under Chapter 11 case number 16-11242.

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