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Uni-Marts seeks exclusivity extension following sale termination
By Caroline Salls
Pittsburgh, Dec. 8 - Uni-Marts LLC is seeking a second extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.
Specifically, the company wants to extend its exclusive plan-filing period to April 22 from Dec. 23 and the solicitation period to June 22, 2009 from Feb. 22.
Because the company's proposed asset purchaser was not able to obtain financing to close the sale, Uni-Marts said it terminated the sale agreement on Dec. 1 and must now seek alternative transactions or attempt to restructure its business.
A hearing is scheduled for Dec. 22.
Uni-Marts, a State College, Pa.-based convenience store operator, filed for bankruptcy on May 29, 2008. Its Chapter 11 case number is 08-11037.
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