Lordstown Motors secures extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Oct. 16 – Lordstown Motors Corp. secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Both periods were extended through Jan. 31.

“In light of the fact that the debtors filed the proposed plan within 120 days of the petition date, this motion is being filed out of an abundance of caution to ensure that the status quo is preserved in these Chapter 11 cases pending the court’s consideration of the proposed disclosure statement and proposed plan,” the company said in the motion seeking the extension.

The Lordstown, Ohio-based electric vehicle maker filed Chapter 11 bankruptcy on June 27 under case number 23-10831.

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