Borders Group gets 90-day extension of exclusive plan-filing period

By Lisa Kerner

Charlotte, N.C., Oct. 18 - Borders Group, Inc. was granted a three-month extension of its exclusive period for filing a Chapter 11 plan and soliciting acceptances of the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The court extended the exclusive filing period to Jan. 12 from Oct. 14 and the solicitation period to March 12 from Dec. 13, the filing said.

Borders said it wanted more time to focus on plan confirmation and the winding down of the debtors' estates, requesting the extension "out of an abundance of caution."

As previously reported, the debtors and the official committee of unsecured creditors filed a joint plan of liquidation on Oct. 3. The disclosure statement hearing is scheduled for Nov. 10. The confirmation hearing is scheduled for Dec. 19.

Borders, an Ann Arbor, Mich.-based specialty retailer of books and other educational and entertainment items, filed for bankruptcy on Feb. 16, 2011. The Chapter 11 case number is 11-10614.

© 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.