Sleep Innovations emerges from Ch.11
-- Home Textiles Today, 3/5/2009 11:25:00 AM
West Long Branch, N.J. – Memory foam products manufacturer Sleep Innovations has emerged from Chapter 11 bankruptcy protection and has obtained $33 million in exit financing from existing lenders.
The company’s pre-packaged plan of reorganization was confirmed by the U.S. Bankruptcy Court in Delaware early last month. The company spent five months in Chapter 11.
“Today’s marks the start of an exciting new chapter for Sleep Innovations, said Rick Heller, ceo. “With a strengthened capital base, we are well-positioned to reach our full potential.”
Jim Judge, evp for marketing & sales, said Sleep Innovations will head into next week’s New York Home Fashions Market with innovative, high-quality products, packaging and programs.