Uni-Marts seeks six-day exclusivity extension to negotiate sale

By Alice Popovici

New York, Aug. 13 - Uni-Marts, LLC, requested a six-day extension to its exclusive periods to file a plan of reorganization or, in the event a sale is negotiated, 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.

The company wants to extend its exclusive plan-filing period to Aug. 18 from Aug. 12 and the solicitation period to Oct. 16 from Oct. 10.

Uni-Marts is in the process of negotiating a potential sale of its assets, as a result of which it may alternately propose a liquidation plan.

Uni-Marts said it has made substantial effort to resolve the issues facing its creditors and the estate but needs additional time to market its assets and negotiate a potential sale. As a result, the company may propose a liquidation plan.

A hearing has been scheduled for Sept. 22.

Uni-Marts, a State College, Pa.-based convenience store operator, filed for bankruptcy on May 29, 2008. Its Chapter 11 case number is 08-11037.

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