Tower Records requests 120-day exclusivity extension

By Caroline Salls

Pittsburgh, Dec. 1 - Tower Records requested a 120-day extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend the exclusive plan-filing period to April 17 and the solicitation period to June 18, 2007.

According to the motion, the extension is necessary because it can only begin evaluating its claims after the January claims bar date.

A hearing is scheduled for Dec. 18.

Tower is a subsidiary of Sacramento, Calif.-based MTS Inc. The company filed for bankruptcy on Aug. 20. Its Chapter 11 case number is 06-10886.

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