Sleep Innovations speeds Ch.11 emergence  

Fux not returning to company

West Long Branch, N.J. – Memory foam manufacturer Sleep Innovations this afternoon announced it plans to emerge from Chapter 11 bankruptcy protection earlier than expected.

The company reported that its reorganization plan has been overwhelmingly approved by each class of creditors entitled to vote on it. Sleep Innovations now expects to come out of Chapter 11 by late February and without using all of the debtor-in-possession financing that had been made available for operations. The company entered bankruptcy in October.

“We are proud of the dramatic progress that has been made,” said Rick Heller, ceo. “It is quite unusual to be ahead of schedule on these sorts of things.”

The company credited the support of longstanding customers, suppliers and lenders for the relatively swift process.

In a related matter, Sleep Innovations announced that former president and ceo Michael Fux, who sold the company to a private equity firm in 2005, has advised the company he will not be returning to a management role as previously announced. Fux reportedly wants to spend more time on personal matters and philanthropic endeavors.

“Sleep Innovations is a terrific company, and I wish it much success in the future,” said Fux.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!