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Retailer Fred’s Set To Solicit Votes On Ch. 11 Plan

by scceu0459

Law360 (February 25, 2020, 8:32 PM EST) — A Delaware judge on Tuesday gave bankrupt discount retailer Fred’s Inc. his nod to finalize a disclosure statement to solicit votes on a Chapter 11 plan that would make distributions to the company’s creditors following the sale of most of its assets.

During a hearing in Wilmington, U.S. Bankruptcy Judge Christopher S. Sontchi agreed to sign off on the disclosure once final revisions are made, including additional information to address a concern raised by the committee of unsecured creditors that not enough detail has been provided about liability releases contained in the plan.

“We’re very happy to have gotten to this…

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