Randolph Hospital, creditors committee secure exclusivity extension

By Sarah Lizee

Olympia, Wash., Jan. 8 – Randolph Hospital, Inc., which does business as Randolph Health, and its official committee of unsecured creditors secured a 60-day extension of the company’s exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the Middle District of North Carolina.

Specifically, the court extended the exclusive plan filing period through Feb. 1 and the exclusive solicitation period through April 1.

The company said in the motion that it is completing the sale of its assets to American Healthcare, which is estimated to close in late January or early February, and negotiating a Chapter 11 plan with the committee and the debtors’ term lender, Bank of America, NA.

Randolph said it has provided a draft Chapter 11 plan to the committee and BofA and is in substantive negotiations with the parties to develop a consensual plan.

Randolph is an Asheboro, N.C.-based health care company. The company filed bankruptcy on March 6, 2020 under Chapter 11 case number 20-10247.

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