Packable Holdings receives extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Jan. 10 – Packable Holdings, LLC secured an extension for the exclusive periods during which the debtors may file a Chapter 11 plan and solicit acceptances, according to an order filed with the U.S. Bankruptcy Court for the District of Delaware.

As requested, the exclusive plan filing period was extended through March 23 from Dec. 23 and the exclusive solicitation period was extended through May 25 from Feb. 24.

In terms of support for the extension, the debtors said they have made significant progress in moving the cases to a successful completion including continued liquidation of their inventory, completing asset sales, rejecting leases and abandoning personal property, preparing paperwork related to the bankruptcy cases, resolving various contested matters and negotiating with the committee and the loan agent to enter into cash collateral stipulations.

The debtors need more time to complete the sales processes and inventory liquidations and to resolve disputes set out in the cash collateral stipulations before filing and prosecuting a plan of liquidation.

Packable is a Hauppauge, N.Y.-based e-commerce company that operates as a third-party seller of health, beauty and other consumer products on online marketplaces. The company filed bankruptcy on Aug. 28 under Chapter 11 case number 22-10797.

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