Goody's granted three-month exclusivity extension to prepare plan

By Jennifer Lanning Drey

Portland, Ore., June 4 - Goody's LLC was granted a three-month extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The exclusive plan-filing period was extended to Aug. 11 from May 13 and the solicitation period to Oct. 12 from July 13.

When requesting the extension, the company said it had been focused on conducting going-out-of-business sales and disposing of assets and had not yet had an adequate opportunity to develop and negotiate a Chapter 11 plan.

Goody's, a Knoxville, Tenn., family apparel retailer, filed for bankruptcy on Jan. 13. Its Chapter 11 case number is 09-10124.

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