Buffets exclusive vote solicitation period extended by three months

By Jennifer Lanning Drey

Portland, Ore., March 4 - Buffets Holdings, Inc. was granted a third extension to its exclusive period to solicit votes on its plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The exclusive solicitation period was extended to April 30 from Jan. 30.

In the motion requesting the extension, Buffets said it had not finalized the terms of its exit financing, so it was forced to delay its plan confirmation hearing.

Buffets Holdings, a steak-buffet restaurant company based in Eagan, Minn., operates restaurants under the names Old Country Buffet, HomeTown Buffet, Ryan's and Fire Mountain. The company filed for bankruptcy on Jan. 22, 2007, and its Chapter 11 case number is 08-10141.

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