Update: Bankruptcy Court grants Latex Foam International motions
June 6, 2014-- Home Textiles Today,
SHELTON, Conn. – The U.S Bankruptcy Court, District of Connecticut, granted all four first-day motions proposed by Latex Foam International Holdings, Inc. on Wednesday, June 4. All subsidiary businesses, including Latex International and Pure LatexBliss, were part of the recent bankruptcy filing.
The key motions granted included joint administration, use of cash collateral, which permits the business to operate in the ordinary course of business, and to pay pre-petition payroll. The other key motion granted by the court involved authorization to maintain existing bank accounts, officials said.
“We are very pleased that the court granted all our first-day motions,” said Latex International President and CEO David Fisher. “The results will enable us to continue to provide the utmost in service to our customers as the world’s largest Talalay latex component producer. Our vendor relationships, as well as our commitment to our employees, will continue as usual.”
Related Content By Author
DayThree from the NY Textiles Market