Co-working space provider Regus Corp.'s bankrupt subsidiaries, aiming to emerge from Chapter 11 by the end of the summer, won approval to solicit creditor votes on a reorganization plan.
Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware approved the plan voting materials for RGN Group Holdings LLC and affiliates during a virtual hearing Thursday. He set a plan confirmation hearing date for Aug. 19.
Regus, the parent, has provided nearly $170 million in exit financing to have the units reorganize and keep open 98 of the bankrupt U.S. locations. Eight will be liquidated.
The units ...
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