Former Loot Crate gets 90-day exclusivity extension

By Sarah Lizee

Olympia, Wash., Nov. 5 – Old LC, Inc., formerly Loot Crate, Inc., obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The court extended its exclusive plan-filing period by 90 days through Dec. 8 and the solicitation period through Feb. 8.

As previously reported, Old LC said in its motion that it has worked cooperatively with the official committee of unsecured creditors appointed for its cases and its pre-bankruptcy secured lender and will continue to do so.

“This request remains consistent with Congress’ intent in establishing a debtor’s right to maintain exclusivity ‘in order to allow the debtor to reach an agreement,’” the motion said.

Los Angeles-based Loot Crate sells pop culture subscription boxes. The company filed bankruptcy on Aug. 11, 2019 under Chapter 11 case number 19-11791.

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