Sleep Innovations Emerges from Chapter 11

Furniture World News

Sleep Innovations, a manufacturer and marketer of memory foam bedding, sleep products and accessories, announced that the Company has emerged from its voluntary Chapter 11 financial reorganization. The Company’s pre-packaged Plan of Reorganization was confirmed by the United States Bankruptcy Court for the District of Delaware on February 4, 2009. “Today marks the start of an exciting new chapter for Sleep Innovations,” said Rick Heller, Chief Executive Officer. “I am particularly pleased that in the face of the current economic environment we were able to complete our restructuring in five months. This is a testament to the hard work of the entire Sleep Innovations team, our lenders and legal and financial advisors. With a strengthened capital base, we are well-positioned to reach our full potential.” “I want to especially thank our customers and vendors whose support throughout the process was vital to this successful outcome,” added Jim Judge, Executive Vice President, Marketing & Sales. “We look forward to building on our reputation as the innovator of high quality memory foam products, packaging and programs. Several of these fantastic new products will be introduced at the upcoming Home Fashion Market next week in New York City.” As part of its emergence from Chapter 11, Sleep Innovations has obtained $33 million in exit financing from their existing lenders. About the Company: Sleep Innovations, Inc. is a leading manufacturer of memory foam sleep products including pillows, mattress toppers, and mattresses. Since its founding, the company has led the industry with innovative technology and breakthrough new products to deliver luxurious comfort and therapeutic support with its pressure relieving memory foam. Sleep Innovations has an exceptional track record of delivering superior quality and value products and programs to consumers for leading retailers such as Costco, Sam’s Club, BJ’s, Walmart, Kmart, Macy’s, Sears, and Kohl’s. Sleep Innovations is proud to manufacture 100% of its memory foam products in the United States.