Pharma Investments, Ventures & Law Weekly
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1-800-Mattress
Largest 1-800-Mattress Franchise Group Challenges Sale to Sleepy's
April 12th, 2009
Consolidated Mattress and Amalgamated Mattress, better known as the franchise operator of 1-800-Mattress/Dial-A-Mattress in New England, Philadelphia, Central and Southern New Jersey, and Florida, has challenged the proposed sale of its New York-based franchisor to longtime rival Sleepy's. The franchisee is offering the franchisor better terms on "Debtor-In-Possession" ("DIP") financing than offered by Sleepy's earlier this week. Consolidated and Amalgamated, an independent franchise group, whose operations remain entirely outside the present bankruptcy, is operating "business as usual," and has a strong financial position. The...
Source: Pharma Investments, Ventures & Law Weekly (2009-04-12)
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