TWTR requests 90-day exclusivity extension to review claims

By Jennifer Lanning Drey

Portland, Ore., June 4 - TWTR, Inc., formerly Tweeter Home Entertainment Group Inc., requested a three-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to Sept. 3 from June 5 and the solicitation period to Nov. 5 from Aug. 4.

In the filing, TWTR said it needs additional time to review and analyze claims that have been asserted against its estates and to develop a plan of liquidation.

A hearing has been scheduled for July 15.

TWTR, a Canton, Mass., consumer electronics retailer, filed for bankruptcy on June 11, 2007 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 07-10787.

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