West Long Branch, New Jersey - Sleep Innovations, a manufacturer of polyurethane memory foam bedding, has emerged from its voluntary Chapter 11 financing reorganisation, the US Bankruptcy Court for the District of Delaware confirmed 4 Feb 2009.
"I am particularly pleased that in the face of the current economic environment we were able to complete our restructuring in five months," said Sleep Innovations ceo, Rick Heller. "With a strengthened capital base, we are well positioned to reach our full potential," he added.
"We look forward to building on our reputation as the innovator of high quality memory foam products, packaging and programme," added executive vice president, marketing and sales, Jim Judge.
As part of its emergence from Chapter 11, Sleep Innovations has obtained $33 million in exit financing from its existing lenders. (RD)