Sleep Innovations settles with Foamex   

West Long Branch, N.J. -- Memory foam mattress and sleep products manufacturer Sleep Innovations and foam supplier Foamex have settled a lawsuit, with Sleep Innovations agreeing to pay $12 million for goods Foamex had delivered earlier.

The companies also said they have terminated their supply agreement.

Sleep Innovations had withheld the payment from Foamex pending the outcome of the litigation, according to a statement from both companies. Presidents and ceos Joseph Lynch at Sleep Innovations and Jack Johnson of Foamex said they were pleased to reach the agreement.

Both parties agreed to dismiss claims they had pending in the suit in U.S. District Court for the Eastern District of Pennsylvania.

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.

CURRENT ISSUE

HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!