rue21 wins exclusivity extension to continue work on consensual plan

By Caroline Salls

Pittsburgh, Aug. 11 – rue21, Inc. received an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the Western District of Pennsylvania.

The company’s exclusive filing period was extended through Dec. 15 and the solicitation period through March 15.

“In just over two months since the petition date, the debtors have made substantial progress toward achieving their restructuring goals, but significant work remains to be done,” the motion said.

As a result, rue21 said it is seeking the proposed extension to ensure that it is able to continue working toward its goal of confirming a consensual, value-maximizing plan of reorganization without the risk of a potential competing plan delaying that process.

rue21 is a Warrendale, Pa., teen-focused specialty retailer that filed for bankruptcy on May 15 under Chapter 11 case number 17-22045.

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