According to the U.S. Bankruptcy Court docket, Kid Brands filed a second motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including April 14, 2015 and June 15, 2015, respectively. The motion explains, “The Exclusive Periods are designed to provide a full and fair opportunity for the Debtors to stabilize their business and pursue the restructuring options available in chapter 11 to maximize the value realized by their estates. The Debtors have made and continue to make significant progress in selling their assets in an orderly fashion and liquidating their businesses.”
The motion continues, “The Debtors firmly believe that extending the Exclusive Periods will permit the plan process to proceed in a rational and thoughtful fashion, maximize value for all parties-in-interest, and enable the Debtors to formulate a consensual chapter 11 plan with input from various stakeholders.” The Court scheduled a January 29, 2015 hearing to consider the extension motion. Learn more about KIDB’s bankruptcy.