Buffets Restaurants wins exclusivity extension to allow confirmation

By Caroline Salls

Pittsburgh, May 30 - Buffets Restaurants Holdings, Inc. has been granted an extension of its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company's exclusive filing period was extended to July 17 and the solicitation period to Sept. 16.

As previously reported, Buffets received court approval of the disclosure statement for its amended plan on April 30.

The company said the plan confirmation hearing is scheduled for June 13, which is about four weeks after the expiration of the current exclusive filing period.

According to the motion, the proposed extension will give Buffets time to confirm the plan or, if the plan is not confirmed, to evaluate its alternatives.

Buffets, an Eagan, Minn.-based restaurant company, filed for bankruptcy on Jan. 18 under Chapter 11 case number 12-10237.

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