Buffets looks to extend exclusive vote solicitation period amid exit financing delays

By Caroline Salls

Pittsburgh, Jan. 30 - Buffets Holdings, Inc. has requested a third extension to its exclusive period to solicit votes on its plan of reorganization, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive solicitation period to April 30 from Jan. 30.

According to the motion, Buffets has not finalized the terms of its exit financing, so it was forced to delay its plan confirmation hearing.

A hearing is scheduled for March 4.

Buffets Holdings, a steak-buffet restaurant company based in Eagan, Minn., operates restaurants under the names Old Country Buffet, HomeTown Buffet, Ryan's and Fire Mountain. The company filed for bankruptcy on Jan. 22, 2007, and its Chapter 11 case number is 08-10141.

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