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KB Toys' extension gives company until Feb. 15 to file plan
By Jeff Pines
Washington, Nov. 16 - The bankruptcy court approved extensions to KB Toys Inc.'s exclusive right to file a reorganization plan until Feb. 15 and to solicit votes until April 16.
The order was filed with the U.S. Bankruptcy Court for the District of Delaware Tuesday.
As the Pittsfield, Mass.-based toy retailer agreed to with its committee of unsecured creditors, any plan filed that does not have the support of the committee will give the committee the co-exclusive right to file its own plan.
The company had asked for an extension to Jan. 14 from Nov. 17 and to extend its exclusive right to solicit votes for the plan until March 14 from Jan. 16.
KB Toys filed for bankruptcy on Jan. 14, 2004. Its Chapter 11 case number is 04-10120.
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