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Jun 29, 2023 · DORAVILLE, Ga., June 29, 2023 – Serta Simmons Bedding, LLC (“SSB” or the “company”), a leading global sleep company, today announced that it has concluded its financial restructuring and emerged from Chapter 11, marking the completion of a critical step in the company’s turnaround effort. “The financial restructuring process we ...
Jun 7, 2023 · Mattress maker Serta Simmons Bedding on Tuesday said that its Chapter 11 reorganization plan has been confirmed by a U.S. bankruptcy court, bringing the bedding company one step closer to emerging ...
Jun 29, 2023 · Through the bankruptcy process, Serta Simmons reduced its debt from $1.9 billion to $315 million, lowering its annual interest expense by more than $100 million. In addition, the company has ...
Jan 24, 2023 · Serta Simmons Bedding LLC, which accounts for nearly one-fifth of U.S. bedding sales, has filed for bankruptcy protection in an effort to eliminate most of its debt, as the slowing economy and ...
Jan 24, 2023 · The creditor group has agreed to provide $125 million in the form of an asset-based loan to help the company fund itself in bankruptcy. Serta has also secured a commitment of $125 million in the ...
Jan 24, 2023 · Amelia Pollard. The emergency funding that Serta Simmons Bedding received during the pandemic triggered a blowback that the company is still struggling to recover from. The mattress manufacturer filed for bankruptcy on Monday, after clashes with lenders including Apollo Global Management Inc. left it with no other options for cutting its debt ...
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