Advanced Marketing seeks two-week exclusivity extension

By Reshmi Basu

New York, Aug. 13 - Advanced Marketing Services, Inc. requested a two-week extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants its exclusive plan-filing period to be extended to Aug. 24 from Aug. 10 and the solicitation period to Nov. 30 from Oct. 9.

Advanced Marketing said the plan will not be ready by the Aug. 24 deadline, noting that the "modest extension" it requested would eliminate any confusion or inefficiencies that may arise if a creditor or other party should introduce a competing plan during the brief period it does not have exclusivity.

The company also cited the size and complexity of its Chapter 11 case.

A hearing is scheduled for Sept. 26.

Advanced Marketing, a San Diego-based provider of customized merchandising, wholesaling and contract distribution services, filed for bankruptcy on Dec. 29, 2006. Its Chapter 11 case number is 06-11480.

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