Shift Technologies seeks extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Jan. 12 – Shift Technologies Inc. is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Northern District of California.

The company asked the court to extend the exclusive plan filing period through April 8 and the exclusive solicitation period through June 7.

“The debtors believe that they have made substantial progress toward formulating a plan and bring this motion in an abundance of caution to avoid the potential risk of competing plans, at a time when the debtors are engaging constructively with the committee and other parties in interest over a plan,” the company said in the motion.

“The debtors are hopeful that they will be in a position to file a combined joint plan and disclosure statement before the current exclusive filing period expires on Feb. 6.”

Shift Technologies is a San Francisco-based used car e-commerce platform. The company filed bankruptcy on Oct. 9 under Chapter 11 case number 23-30687.

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