HOUSTON — Parties interested in assets from bankrupt Top 100 retailers Conn’s HomePlus and Badcock Home Furniture &more have been extended.
On Sept. 6, a document filed in the U.S. Bankruptcy Court for the Southern District of Texas revealed that the debtors (which collectively includes Conn’s Inc.; Conn Appliances; CAI Holding; Conn Lending; Conn Credit I; Conn Credit Corp.; CAI Credit Insurance Agency; New RTO; W.S. Badcock ; W.S. Badcock Credit; and W.S. Badcock Credit I), in consultation with the consultation parties and with consent of the debtor-in-possession agent, have agreed to extend the bid deadline by two weeks, along with other relevant transaction milestones.
The notice says that the debtors have received significant interest in the assets and anticipate that the extension will provide potential bidders time to complete their work and submit binding qualifying bids.
The original deadline for bids was set for Sept. 6 at 4 p.m. Central. The new deadline is slated for Sept. 20 at 4 p.m. Central with an auction scheduled for Sept. 25 at 10 a.m. Central.
Also on Sept. 6, Conn’s released details of a Form 25-NSE filing with the U.S. Securities and Exchange Commission that reveals that its stock will be removed from the Nasdaq Stock Exchange at the opening of the trading session on Sept. 16.
Conn’s, based in The Woodlands, Texas, filed for bankruptcy on July 23 and is in the process of going out of business.