Mervyn's exclusive periods extended by three months

By Jennifer Lanning Drey

Portland, Ore., June 25 - Mervyn's Holdings, LLC was granted an extension to its exclusive periods to file a plan of liquidation and to solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The exclusive plan-filing period was extended to Aug. 23 from May 25 and the solicitation period to Sept. 22 from June 24.

According to the motion requesting the approval, Mervyn's needs more time to complete the liquidation of its assets and proceed with potential causes of action that will maximize recovery for its creditors.

Mervyns, a San Francisco-based department store, filed for bankruptcy on July 29, 2008. Its Chapter 11 case number is 08-11586.

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