Former Urban Brands asks court for more time to file plan, get votes

By Lisa Kerner

Charlotte, N.C., Jan. 19 - UBI Liquidating Corp., formerly Urban Brands, Inc., is seeking a 90-day extension to its exclusive periods for filing and soliciting votes on a plan of liquidation, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period to April 19 from Jan. 19 and the solicitation period to June 20 from March 20.

A hearing is set for Feb. 16.

The debtors are seeking the extension to maintain the status quo during the wind-down stage of the Chapter 11 cases, the filing said.

In November, Urban Brands' name was changed to UBI Liquidating in connection with the sale of substantially all of its assets.

As previously reported, the court approved the $15.67 million sale of substantially all of the company's assets to New Ashley Stewart, LLC in late October.

Urban Brands, a Secaucus, N.J.-based plus-sized apparel retailer, filed for bankruptcy on Sept. 21, 2010. Its Chapter 11 case number is 10-13005.

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