Destination Maternity: Court approves extension of exclusive periods

By Caroline Salls

Pittsburgh, Feb. 19 – Destination Maternity Corp. secured an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company’s exclusive filing period was extended to May 18 from Feb. 18 and the solicitation period to July 20 from April 20.

Destination Maternity said in the motion that “the size and complexities of these Chapter 11 cases warrant extension of the exclusive periods.”

The company said it continues to operate some stores under the terms of a transition services agreement, which is in effect until June 30.

In addition, Destination Maternity said its initial going-out-of-business sales have concluded, but additional going-out-of-business sales “are in various stages of completion.”

According to the motion, the company’s deadline to assume or reject some leases has been extended to May 18, and Destination Maternity is working with its asset purchaser regarding a purchase price adjustment.

Destination Maternity is a clothing retailer based in Moorestown, N.J. The company filed bankruptcy on Oct. 21 under Chapter 11 case number 19-12256.

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