NEW YORK -- Cyrus R. Vance, the court-appointed mediator in the R.H. Macy & Co. bankruptcy proceeding, said Thursday that competing proposals for the retailer's reorganization may begin circulating to Macy creditors on April 29.

The documents, from Macy's and its suitor, Federated Department Stores, are known as plan term sheets.

Vance's announcement followed a week of meetings with Macy's creditors that concluded Thursday afternoon with Federated submitting its proposal to him.

In a statement, Vance said he had requested that Macy's revise its March 23 plan term sheet and distribute the revision to the creditors involved in the mediation process on April 29.

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