Loehmann’s Holdings Inc., the discount clothing retailer, can send its reorganization plan to creditors for a vote, less than two months after it filed for Chapter 11 bankruptcy protection.
U.S. Bankruptcy Judge Robert Gerber said at a hearing in Manhattan today that he will approve the company’s disclosure statement, which describes the reorganization, after Loehmann’s agreed to some changes. Gerber set Feb. 7 for a hearing on confirmation of the plan.
“With the modifications that have been agreed to, the disclosure statement will be approved,” Gerber said. That approval means the company can have creditors vote on the plan.
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