Collins & Aikman granted 110-day exclusivity extension

By Caroline Salls

Pittsburgh, Jan. 9 - Collins & Aikman Corp. obtained 110-day extensions to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the Eastern District of Michigan.

The company's exclusive plan-filing period was extended to May 1 from Jan. 12 and the solicitation period to June 30 from March 13.

The company said the extensions are necessary to give it sufficient time to develop further strategic and financial alternatives and to negotiate a reorganization plan containing appropriate treatment of creditors.

Collins & Aikman, a Troy, Mich.-based automotive company, filed for Chapter 11 on May 17, 2005. The case number is 05-55927.

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