Kirk asks court to extend access to $1.85 million in cash collateral

By Jennifer Lanning Drey

Portland, Ore., July 24 - Kirk Corp. asked the U.S. Bankruptcy Court for the Northern District of Illinois to extend its access to $1.85 million of cash collateral to Sept. 4, according to a Friday filing.

The company's cash collateral access is currently set to expire on July 31.

Kirk said it intends to file a plan of reorganization within a week and expects the confirmation process to extend into early September.

A hearing is scheduled for July 29.

Kirk, an employee-owned homebuilder based in Streamwood, Ill., filed for bankruptcy on May 12. Its Chapter 11 case number is 09-17236.

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