Mervyn's granted exclusivity extension to finish liquidating assets

By Jennifer Lanning Drey

Portland, Ore., Feb. 25 - Mervyn's Holdings LLC was granted a second extension to its exclusive periods to file 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 exclusive plan-filing period was extended to May 25 from Feb. 24 and the solicitation period to June 24, 2009 from March 26.

According to the motion requesting the extension, the company needs more time to complete the liquidation of its assets.

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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