Debtor Gets Additional 60 Days to File Chapter 11 Plan in S&K Famous Brands Bankruptcy

Richmond, Virginia.  On June 4, 2009, S&K Famous Brands, Inc.’s motion to extend the exclusive period for their filing a Chapter 11 Plan until August 11, 2009 was granted by the Bankruptcy Court for the Eastern District of Virginia, Richmond Division.  Under the bankruptcy code, a Chapter 11 debtor has the exclusive right to file a plan for the first 120 days of their bankruptcy.  S&K’s motion seeks to extend this period for another 60 days.  The filing and eventual confirmation of a plan will bring S&K’s bankruptcy to a close.  Until the filing of the plan, S&K’s creditors will not know how much they can expect to be paid.