Vicorp granted exclusivity extension to explore asset sale possibilities

By Caroline Salls

Pittsburgh, Nov. 18 - Vicorp Restaurants Inc. received an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to March 2 from Oct. 30 and the solicitation period to April 30 from Dec. 28.

According to the motion, Vicorp was recently forced to refocus its reorganization efforts toward a sale of substantially all of its assets.

As a result, the company said it has not yet had a chance to explore all potential asset sale avenues or to formulate a Chapter 11 plan.

Vicorp, a Denver-based restaurant operator, filed for bankruptcy on April 3, 2008. Its Chapter 11 case number is 08-10623.

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