BSCV granted four-month exclusivity extension to pursue plan changes

By Caroline Salls

Pittsburgh, April 22 - BSCV, Inc. has obtained a four-month extension of its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to Aug. 3 from April 1 and the solicitation period to Sept. 30 from May 30.

According to the motion, BSCV has agreed to work with its asset purchaser on the terms of an amended plan and disclosure statement designed to preserve net operating losses for the buyer.

As a result, the company said it needs more time to negotiate the plan changes.

BSCV, a Reading, Pa.-based regional department store chain, filed for bankruptcy on Aug. 4, 2008. Its Chapter 11 case number is 08-11637.

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