Latex Foam International Holdings, Inc. has filed a Chapter 11 petition in U.S. Bankruptcy Court for the District of Connecticut, to restructure the business to better service its customers, work with its vendors and provide for its employees. All subsidiary businesses, including Latex International and Pure LatexBLISS are part of the filing.
The company said there will be no disruption of service to its customers, and it aims to exit the Chapter 11 process expeditiously.
At the time of the filing, Latex Foam International Holdings had approximately $29 million in liabilities and $26 million in assets. A preliminary court date has been set for June 4th at which time initial motions including debtor-in-possession financing arrangements, are expected to be approved.
“This move is an opportunity to solidify Latex International’s position as the leading manufacturer in the category. The restructuring along with a new infusion of capital will strengthen our current business and position the company for dynamic future growth,” said Latex International President and CEO David Fisher.
For more information, visit www.latexinternational.com.
About Latex International: Founded in 1975, Latex International is the world’s largest manufacturer of latex mattresses and pillows, sold under many leading brand names through strategic business partners, including Pure LatexBLISS. Talalay Latex sleep products offer unsurpassed durability and levels of weightless comfort. More than 200 employees produce mattress cores, toppers and pillow buns utilizing both the Talalay and Dunlop manufacturing processes. Latex International manufactures latex in Shelton, CT and manages over 10 distribution and fabrication centers throughout the world.