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Hampshire Group Exclusivity Extension Sought

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Hampshire Group filed with the U.S. Bankruptcy Court a fourth motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including September 20, 2017 and November 20, 2017, respectively.

The motion explains, “The Debtors submit that cause exists to grant the extensions of the Exclusive Periods requested in this Motion. Shortly after entry of the Third Extension Order, the Debtors and the Committee jointly filed their Proposed Plan, Proposed Disclosure Statement, and the Solicitation Motion. The Debtors believe the proposed timetable set forth in the Solicitation Motion is fair and reasonable to all parties in interest and that the relief requested therein represents the best option to bring these cases to a consensual resolution in an expeditious and orderly manner.”

In addition, “While the Debtors believe the Plan can, and should, be confirmed on the proposed timetable set forth in the Solicitation Motion, out of an abundance of caution, the Debtors are filing this Motion to preserve the status quo in these cases through one week after the requested date of the hearing on confirmation of the Proposed Plan and final approval of the Proposed Disclosure Statement. The extensions of the Exclusive Periods requested in this Motion will further the efforts to obtain confirmation of a chapter 11 plan of liquidation, which the Debtors believe is in the best interests of their estates and creditors.”

The Court scheduled an August 17, 2017 hearing to consider the extension motion, with objections due by August 4, 2017.

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