Mervyn's eyes fourth exclusivity extension to complete liquidation

By Caroline Salls

Pittsburgh, July 16 - Mervyn's Holdings, LLC is seeking a fourth extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company is asking the court to extend its exclusive plan-filing period to Jan. 29 from Aug. 23 and the solicitation period to March 29, 2010 from Sept. 22.

The company said it needs more time to complete the liquidation of its assets and to prosecute causes of action that would allow it to present a liquidating plan that provides recoveries to as many constituents as possible.

A hearing is scheduled for Aug. 19.

Mervyn's, 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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