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Article: Sleepy's Will Pay $25 Million and Assume Certain Company Obligations to Acquire 1800mattress.com Assets.
- Article from:
- Investment Weekly News
- Article date:
- June 13, 2009
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Sleepy's, the nation's largest mattress retailer, has emerged as the highest and best bidder in the judgment of 1800mattress.com, the creditors committee and court-approved investment banker to acquire 1800mattress.com for $25 million, besting four other interested parties. The companies will present their plan Thursday to the U.S. Bankruptcy Court for the Eastern District of New York, whose approval is required.
In a day-long auction process on Tuesday, four other retailers and investor groups bid on the assets of 1800mattress.com, the nation's leading premiere telephone, internet and chat retailer of bedding and sleep products.
Sleepy's expressed its ...