Gibson Brands Inc. announced that the U.S. Bankruptcy Court for the District of Delaware in Wilmington has approved the company’s disclosure statement. According to Gibson, this approval is a “significant step in Gibson’s process for emergence from chapter 11, and allows the company to begin the process of soliciting votes on the plan of reorganization and ultimately to seek an order confirming the plan.”
A hearing to confirm the plan is scheduled to begin on Sept. 27.
“We are extremely pleased by the court’s approval of our disclosure statement, which is a key step toward the company’s successful emergence from chapter 11,” stated Henry Juszkiewicz, CEO of Gibson Brands. “Our employees have worked very hard to help us stay on track to emerge from chapter 11 as planned, and we are grateful for the continuing support from our creditors, partners and vendors.”