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Article: In Hindsight.(Sleepy's Inc. acquires 1-800-Mattress)(Source Capital Inc. planning to expand high yield group and appoints Victor Silano)(Sovereign wealth funds)
- Article from:
- Investment Dealers' Digest
- Article date:
- March 27, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Editorial Staff
LEAVE OFF THE LAST 'S' FOR SLEEPY'S
Sleepy's and 1800mattress.com will merge, the bedding businesses announced this week, at a time when the furniture industry has been hard hit by the recession.
Sleepy's will acquire some of 1800mattress.com's assets as they complete the sale through a Chapter 11 process that will result eventually in a court-ordered sale.
"There have been a number of individuals and investor groups interested in the long-term opportunities of investing in our brand, and we have determined that Sleepy's offered us the best opportunity to recapitalize and move our business plan forward," said ...