Former Urban Brands eyes exclusivity extension to reconcile sale price

By Caroline Salls

Pittsburgh, June 21 - UBI Liquidating Corp., formerly Urban Brands, Inc., is seeking an extension to its exclusive periods for filing and soliciting votes on a plan of liquidation, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend the exclusive filing period to July 20 from June 20 and the solicitation period to Sept. 19 from Aug. 19.

Although it has completed "substantially final drafts" of a liquidation plan and related disclosure statement, UBI said it would prefer to complete a purchase price reconciliation agreement with New Ashley Stewart LLC before it files those documents.

A hearing is scheduled for Aug. 9.

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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