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Drug Fair eyes four-month exclusivity extension to negotiate plan
By Caroline Salls
Pittsburgh, Nov. 18 - Drug Fair Group, Inc. requested a second extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.
The company wants to extend its exclusive plan-filing period to March 18 from Nov. 18 and the solicitation period to May 18 from Jan. 18.
According to the motion, Drug Fair needs more time to finalize plan negotiations, assess its administrative, priority and secured claim liability and formulate a plan.
Drug Fair, a Somerset, N.J.-based operator of pharmacies and general merchandise stores, filed for bankruptcy on March 18, 2009. Its Chapter 11 case number is 09-10897.
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