Sleep Innovations Emerges from Ch. 11
March 23, 2009-- Home Textiles Today,
— 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 marks the start of an exciting new chapter for Sleep Innovations, said ceo Rick Heller on Thursday, March 5. "With a strengthened capital base, we are well-positioned to reach our full potential."
Jim Judge, evp for marketing and sales, said Sleep Innovations planned to bring innovative, high-quality products, packaging and programs to the New York Home Fashions Market held earlier this month.
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