KB Toys asks court to extend exclusive plan-filing period to July 9

By Caroline Salls

Pittsburgh, April 9 - KB Toys, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to July 9 from April 10 and the solicitation period to Sept. 8 from June 9.

According to the release, KB Toys has focused much of its time and resources on selling its assets, closing its retail stores and winding down its operations.

As a result, the company said it has not had time to formulate a plan.

A hearing is scheduled for May 19.

KB Toys, a Pittsfield, Mass., mall-based toy retailer, filed for bankruptcy on Dec. 11. Its Chapter 11 case number is 08-13269.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.