A Furniture Today article has reported that the U.S. Bankruptcy Court in the Eastern District of Virginia has granted Sleepy’s as the winning buyer for Mattress Discounters for $11.9 million.
Mattress Discounters is an 80-store chain, 65% of which was previously owned by RoomStore, a company that is currently in Chapter 7 liquidation proceedings.
Sleepy’s provided a higher bid than Longroad Asset Management, an investment firm, the article said.
To read the Furniture Today article in its entirety, click here.
Previously on abfjournal.com:
Judge OKs Deal for RoomStore to Offer Mattress Discounter Stake, Friday, September 21, 2012