A’Gaci requests approval of cash collateral, plan milestone extensions

By Caroline Salls

Pittsburgh, May 2 – A’Gaci, LLC requested court approval of an agreement under which the termination date for its cash collateral use would be extended to July 31, according to a motion filed May 1 with the U.S. Bankruptcy Court for the Western District of Texas.

The company’s cash collateral use is currently scheduled to expire on May 5.

Also under the proposed agreement with secured creditor JPMorgan Chase Bank, NA, A’Gaci said it will be required to file a Chapter 11 plan and disclosure statement by May 7, it must execute an exit financing commitment to support the plan by May 18, the disclosure statement must be approved by June 15, and the plan must be confirmed by July 31.

“The debtor seeks approval of these amendments so that it can continue operating and work toward a resolution of this Chapter 11 case,” the motion said.

A’Gaci is a San Antonio-based fashion retailer. The company filed for bankruptcy on Jan. 9 under Chapter 11 case number 18-50049.

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