K&W Cafeteria Inc. has received federal Bankruptcy Court permission to delay filing its next proposed reorganization plan by three months to March 31, the Winston-Salem (N.C.) Journal reported. Judge Benjamin Kahn also approved giving the Winston-Salem restaurant chain three additional months, or until May 30, to gain confirmation of the plan. Approval of the delays come as K&W's owners and management say they want to change course on its future after saying it did not attract an adequate bid for its assets. K&W, a staple of Southern comfort foods for 83 years, filed for bankruptcy protection Sept. 2 as the latest step in a corporate downsizing that began before the COVID-19 pandemic. Judge Kahn separately approved the sale of two company-owned properties in Cornelius for a combined $1.47 million.
