Northwest receives shorter-than-requested plan exclusivity extension

By Caroline Salls

Pittsburgh, Sept. 1 – The Northwest Co., LLC obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, Northwest’s exclusive filing period was extended through Nov. 3 and the solicitation period through Jan. 4.

As previously reported, the company initially asked the court to extend the filing period by 120 days through Dec. 14 and the solicitation period through Feb. 12, 2021.

According to the motion, Northwest has spent the past several months working to manage the extensive requirements of Chapter 11, negotiate and obtain post-bankruptcy financing, maintain operations and important licensor relations, resolve an examiner appointment motion and conduct a marketing and sale process for substantially all of its assets, which is not yet complete.

“The requested extension of the exclusive periods will allow the debtors to complete the sale process and work with key case constituencies to confirm a Chapter 11 plan,” the motion said.

Northwest is a Roslyn, N.Y.-based branded home textiles company. The company filed bankruptcy on April 18 under Chapter 11 case number 20-10990.

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