Mervyn's gets fourth exclusivity extension to complete liquidation

By Alice Popovici

New York, Aug. 18 - Mervyn's Holdings, LLC received a fourth extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan filing period was extended to Jan. 29 from Aug. 23 and the solicitation period to March 29, 2010 from Sept. 22.

In the motion 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.

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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