Tower Records Wins Chapter 11 Extension

Law360, New York (December 19, 2006, 12:00 AM EST) -- A bankruptcy judge on Tuesday granted Tower Records’ request for an extension to exclusively file its Chapter 11 reorganization plan.

Judge Brendan L. Shannon extended the bankrupt music retailer’s exclusivity period through March 26, 2007. The deadline for Tower Records to win creditor support for the plan was also extended until May 25, 2007.

Tower Records originally requested the extension earlier this month, claiming the large scale and complexity of its Chapter 11 proceedings necessitated an extension to its exclusivity period.

The company pointed out that...
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