Advantage Holdco receives extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Sept. 29 – Advantage Holdco, Inc. secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the plan filing period through Nov. 26 and the solicitation period through Jan. 26.

“The relief requested herein will facilitate the debtors’ efforts by providing the debtors with a full and fair opportunity to resolve one remaining open claims issue without the distraction of ill-formed competing plans,” the company said in its motion.

The company said it intends to file a plan of liquidation shortly, but is seeking the extension “out of an abundance of caution to alleviate any unnecessary rush” in the final stages of the Chapter 11 cases.

Advantage Holdco is an Orlando, Fla.-based rental car company. The company filed bankruptcy on May 26, 2020 under Chapter 11 case number 20-11259.

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