Former GNC Holdings seeks extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Oct. 21 – Vitamin OldCo Holdings, Inc., formerly GNC Holdings, Inc., is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The debtors are asking the court to extend the exclusive plan filing period through Jan. 19 and the exclusive solicitation period through March 22.

As previously reported, the plan was confirmed on Oct. 14.

“Given the complexity associated with simultaneously administering the Chapter 11 cases and continuing to operate the debtors’ business in the ordinary course, the debtors have had insufficient time, at this point, to cause the plan to become effective,” the motion said.

The debtors said that without an extension, parties in interest may be able to engage in counterproductive behavior by proposing an alternative Chapter 11 plan, despite the fact that the court has already confirmed the plan.

GNC Holdings is a Pittsburgh-based health, wellness and performance retailer. The company filed bankruptcy on June 23 under Chapter 11 case number 20-11662.

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