The company, which was sold to a liquidation firm in late 2007, operates far fewer stores than in its 1990s heyday.

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Two companies have expressed an interest in running a music festival in Surrey in 2013 after the company which ran Guilfest went into liquidation.

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According to an article in Modern Healthcare (subscription required) the first company to begin liquidation as a result of the law appears to be MedCath.

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The analyst even said that the extension is a positive in that the holders of the notes are continuing to work with the company on the liquidation of the underlying mortgage-backed securities, which are serving as collateral for the debt.

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