RGN-Group seeks exclusivity extension to finalize lease negotiations

By Sarah Lizee

Olympia, Wash., June 8 – RGN-Group Holdings, LLC is seeking a 100-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the plan filing period through Oct. 1 and the solicitation period through Dec. 1.

Since the court granted the debtors’ most recent extension of the exclusivity period on Feb. 11, the debtors have continued to progress their lease negotiations and the related assumption and rejection decisions, in addition to working closely with the official committee of unsecured creditors around the terms of a Chapter 11 plan, RGN-Group said.

“Nevertheless, due to the sheer size and complexity of this process, in addition to the continuing uncertainty caused by the ongoing impact of the Covid-19 pandemic and the slower-than-anticipated vaccine rollout, the debtors require additional time to finalize remaining lease negotiations and related decisions necessary to formulate such plan,” the company said in its motion.

A hearing is scheduled for June 21.

Carrollton, Tex.-based RGN provides workplace solutions to independent and mobile professionals, home-based businesses, small and emerging businesses and midsize-to-large corporations. The company filed Chapter 11 bankruptcy on Aug. 17, 2020 under case number 20-11961.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.