Whitehall Jewelers seeks fifth exclusivity extension to finalize plan

By Alice Popovici

New York, Oct. 20 - Whitehall Jewelers Holdings, Inc. requested a fifth extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to Dec. 23 from Oct. 20 and the solicitation period to Feb. 23 from Dec. 22.

A hearing has been scheduled for Nov. 20.

Whitehall Jewelers said it is liquidating its remaining assets and settling "a multitude of claims" against its estates. The company used the last exclusivity extension granted by the court to draw up a proposal in an effort to settle the claims of priority tax claimants, according to the motion.

The company said that "a further extension of [its] exclusive periods will increase the likelihood of a greater distribution to [its] creditors by facilitating an orderly, efficient and cost-effective plan process."

Whitehall, a Chicago-based jewelry retailer, filed for bankruptcy on June 23, 2008. Its Chapter 11 case number is 08-11261.

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