Progrexion asks court to extend exclusive plan periods by 90 days

By Sarah Lizee

Olympia, Wash., Sept. 15 – PGX Holdings, Inc., which does business as Progrexion, is seeking a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the exclusive plan filing period through Jan. 2 and the exclusive solicitation period through Feb. 29.

The company filed a Chapter 11 plan of liquidation last month, and its current filing exclusivity period is set to expire prior to plan confirmation.

“Maintaining the status quo at this juncture is critical as the debtors and their stakeholders work towards consummating the Plan that has broad consensus among the secured creditors and general unsecured creditor constituencies,” the company said in its motion.

“A ninety-day extension is therefore appropriate to protect the value and consensus fostered by the debtors and their stakeholders and will not prejudice any parties in interest.”

Progrexion is a provider of consumer credit repair services based in Salt Lake City. The company filed bankruptcy on June 4 under Chapter 11 case number 23-10718.

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