Court approves Hostess' 120-day extension of plan exclusive periods for asset sale, wind-down

By Lisa Kerner

Charlotte, N.C., Dec. 21 - Hostess Brands Inc. was granted a 120-day extension of its exclusive period for filing a Chapter 11 plan and for soliciting plan votes by the U.S. Bankruptcy Court for the District of Delaware, according to an attorney familiar with the case.

The court extended the exclusive period for filing a Chapter 11 plan to March 6 from Nov. 6 and the exclusive period for soliciting plan acceptances to May 6 from Jan. 7.

When requesting the extension - the company's third - Hostess said it needed additional time to complete the sale of assets and the winddown of the business, which was approved by the court on Nov. 30.

Hostess Brands is an Irving, Texas-based operator of regional bakeries. The company filed for bankruptcy on Jan. 11, 2012 under Chapter 11 case number 12-22052.

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