Pier 1 Imports receives 90-day exclusivity extension to finalize plan

By Caroline Salls

Pittsburgh, June 2 – Pier 1 Imports, Inc. received an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

Specifically, Pier 1’s exclusive filing period was extended by 90 days through Sept. 14 and the solicitation period through Nov. 16.

According to the motion, Pier 1 has been in Chapter 11 plan discussions with some of its key stakeholders and is hopeful the efforts of stakeholders to date, including in connection with debtor-in-possession financing and liquidation, will continue.

The company said these efforts will be largely dictated by the reopening of the economy.

“Additional time to finalize a plan is both necessary and warranted under the facts and circumstances of this case,” the motion said.

Pier 1 is a Fort Worth-based importer of home decor and furniture. The company filed bankruptcy on Feb. 17 under Chapter 11 case number 20-30805.

© 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.