Former Urban Brands gets additional time to file plan, garner support

By Lisa Kerner

Charlotte, N.C., Feb. 15 - UBI Liquidating Corp., formerly Urban Brands, Inc., was granted a 90-day extension to its exclusive periods for filing and soliciting votes on a plan of liquidation, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The court extended the company's exclusive filing period to April 19 from Jan. 19 and the solicitation period to June 20 from March 20.

The debtors sought the extension to maintain the status quo during the wind-down stage of the Chapter 11 cases, a prior 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. Its Chapter 11 case number is 10-13005.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.