Sleepy’s to acquire

Chantal Todé March 25, 2009

Dial-A-Mattress Corp. has filed for Chapter 11 bankruptcy and plans to sell the business to the largest mattress retailer in the country, Sleepy’s. Creditors filed an involuntary Chapter 7 bankruptcy petition against Dial-A-Mattress last week, seeking approximately $1.7 million. Typically, this would result in the liquidation of the company. After receiving offers from several interested parties last week, Dial-A-Mattress decided to file to convert the Chapter 7 bankruptcy to a Chapter 11 filing, which would allow it to reorganize and complete the sale to Sleepy’s.

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