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Latest news, thinking, and stories from Serta Simmons Bedding and the world of sleep
US appeals court rejects controversial debt restructuring manoeuvre
Dec 31, 2024 · A federal appeals court has invalidated a controversial corporate debt restructuring manoeuvre, ruling that a lower bankruptcy court erred in its handling of the 2023 Chapter 11 restructuring of...
Latest News - Serta Simmons
DORAVILLE, Ga., June 29, 2023 – Serta Simmons Bedding, LLC (“SSB” or the “company”), a leading global sleep company, today announced that it has concluded its financial restructuring and emerged from Chapter 11, marking the completion of a critical step in the company’s turnaround effort.
Serta's Controversial Debt Deal Reversed By Appeals Court (2)
Dec 31, 2024 · The 2020 uptier deal that gave Serta a $200 million cash infusion wasn’t an allowed open market purchase, a three-judge panel of the US Court of Appeals for the Fifth Circuit ruled on Tuesday, reversing a bankruptcy court opinion.
(US) Fifth Circuit Puts Serta Simmons Uptier Transaction to Bed
Jan 16, 2025 · On December 31, 2024, the U.S Court of Appeals for the Fifth Circuit issued a unanimous decision reversing the bankruptcy court’s ruling that allowed an uptier transaction entered into by Serta ...
5th Circuit rejects Serta Simmons' controversial 2020 debt deal
Dec 31, 2024 · The 5th U.S. Circuit Court of Appeals ruled Tuesday that mattress maker Serta Simmons did not treat its lenders equally in a controversial 2020 debt deal, warning that similar deals involving...
Serta Simmons Bedding Achieves Confirmation of Plan of …
DORAVILLE, GA., June 6, 2023 – Serta Simmons Bedding, LLC (“SSB” or the “company”), a leading global sleep company, today announced that the U.S. Bankruptcy Court for the Southern District of Texas has confirmed the company’s pre-arranged Plan of Reorganization (“Plan”).
Serta Simmons plans to refresh the majority of its ... - Retail Dive
Jul 6, 2023 · Serta Simmons said it’s building its turnaround strategy on four pillars — product innovation, brand positioning and marketing investments, sales growth and supply chain investments.
UPDATE 2-U.S. mattress maker Serta Simmons files for bankruptcy …
Jan 24 (Reuters) - Serta Simmons Bedding LLC, which accounts for nearly one-fifth of U.S. bedding sales, has filed for bankruptcy protection in an effort to eliminate most of its debt, as the...
Court of Appeals ruling in Serta puts uptier transactions on …
Jan 6, 2025 · The Fifth Circuit Court of Appeals last week overturned a bankruptcy court ruling in the Chapter 11 proceedings of Serta Simmons, holding that Serta’s 2020 uptier transaction that excluded a group of Serta lenders was invalid under the indentures in place at the time governing the company’s term loan debt, and sending the case back to the ...