Tweeter granted four-month exclusivity extension to analyze claims, negotiate plan

By Jennifer Lanning Drey

Portland, Ore., March 3 - Tweeter Home Entertainment Group, Inc. was granted a four-month extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a source familiar with the company's Chapter 11 case.

At a Monday hearing, the U.S. Bankruptcy Court for the District of Delaware extended the exclusive plan-filing period to June 5 from Feb. 6 and the solicitation period to Aug. 4, 2008 from April 7.

When the company requested the extension, Tweeter said it needed more time to analyze claims that were not assumed under the sale of substantially all of the company's assets and to develop and negotiate the terms of a plan of liquidation.

Tweeter, a Canton, Mass., consumer electronics retailer, filed for bankruptcy on June 11, 2007. Its Chapter 11 case number is 07-10787.

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