FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Plainfield Special Situations Master Fund II Ltd   2. Issuer Name and Ticker or Trading Symbol PLAYBOY ENTERPRISES INC [PLA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O PLAINFIELD ASSET MANAGEMENT LLC, 333 LUDLOW STREET 3. Date of Earliest Transaction (Month/Day/Year) 04/21/2010 (Street) STAMFORD, CT 06902 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

3.00% Convertible Senior Subordinated Notes due 2025

$ 17.02

04/21/2010

P

$ 1,000,000

(2)

(3)

Class B Common Stock

58,765

$ 895,000

$ 1,000,000

D (1)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Plainfield Special Situations Master Fund II Ltd C/O PLAINFIELD ASSET MANAGEMENT LLC 333 LUDLOW STREET STAMFORD, CT 06902		X
Plainfield Capital Ltd C/O PLAINFIELD ASSET MANAGEMENT LLC 333 LUDLOW STREET STAMFORD, CT 06902		X
PLAINFIELD SPECIAL SITUATIONS MASTER FUND LTD. C/O PLAINFIELD ASSET MANAGEMENT LLC 333 LUDLOW STREET STAMFORD, CT 06902		X
Plainfield OC Master Fund Ltd C/O PLAINFIELD ASSET MANAGEMENT LLC 333 LUDLOW STREET STAMFORD, CT 06902		X
PLAINFIELD ASSET MANAGEMENT LLC C/O PLAINFIELD ASSET MANAGEMENT LLC 333 LUDLOW STREET STAMFORD, CT 6902		X
HOLMES MAX C/O PLAINFIELD ASSET MANAGEMENT LLC 333 LUDLOW STREET STAMFORD, CT 06902		X

Signatures

PLAINFIELD SPECIAL SITUATIONS MASTER FUND II LIMITED By: /s/ Thomas X. Fritsch Authorized Individual		04/23/2010
**Signature of Reporting Person		Date
PLAINFIELD CAPITAL LIMITED By: /s/ Thomas X. Fritsch Authorized Individual		04/23/2010
**Signature of Reporting Person		Date
PLAINFIELD SPECIAL SITUATIONS MASTER FUND LIMITED By: /s/ Thomas X. Fritsch Authorized Individual		04/23/2010
**Signature of Reporting Person		Date
PLAINFIELD OC MASTER FUND LIMITED By: /s/ Thomas X. Fritsch Authorized Individual		04/23/2010
**Signature of Reporting Person		Date
PLAINFIELD ASSET MANAGMENT LLC By: /s/ Thomas X. Fritsch Authorized Individual		04/23/2010
**Signature of Reporting Person		Date
MAX HOLMES* By: /s/ Thomas X. Fritsch Authorized Individual		04/23/2010
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	See Exhibit 99.1
(2)	The Notes contain a conversion feature, exercisable by the reporting person in exchange for Class B Common Stock of the issuer upon the occurrence of certain events, including, but not limited to: (i) the redemption of the Notes by the issuer; (ii) certain triggering events relating to the closing price of the Class B Common Stock; (iii) certain triggering events relating to the trading price of the Notes; (iv) certain triggering events relating to certain distributions made by the issuer; and (v) the occurrence of certain corporate transactions relating to the issuer.
(3)	Expiration shall occur upon the earlier of 3/15/25 (the maturity date of the Notes) or the date on which such Notes are redeemed by the issuer.
Remarks: * Duly authorized pursuant to Limited Power of Attorney, dated February 1, 2007, by and on behalf of Max Holmes, appointing Thomas X. Fritsch as his attorney-in-fact, attached as Exhibit 24 to Plainfield Special Situations Master Fund Limited's Form 3 with respect to Playboy Enterprises, Inc., filed on August 16, 2007 and incorporated by reference herein.

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