Rhodes exclusive solicitation period extended to Dec. 31

By Caroline Salls

Pittsburgh, Oct. 21 - Rhodes Inc. obtained court approval for its exclusive period to solicit votes to be extended to Dec. 31 from Oct. 17 in a filing Friday with the U.S. Bankruptcy Court for the Northern District of Georgia.

In its motion, Rhodes said it needs the extra time because its case is complex. It added that it has made "substantial progress" but is still negotiating terms of an amended plan of reorganization with the creditors committee.

The original plan of reorganization was filed on June 20.

Rhodes, an Atlanta-based furniture retailer, filed for bankruptcy on Nov. 4, 2004. Its Chapter 11 case number is 04-78434.

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