When the company enters the bankruptcy of Chapter 11, it often shares a plan. This plan shows what the company expects.
In some cases, this offer contains information about possible funding or a company that wants to buy a business bankruptcy. At other times, the plan may share information and turn a debt with ownership with creditors or other financial method to create a breathing room.
Occasionally, bankruptcy plan is more than a bullet point form or a list of things the company wants to happen.
This was the case with the Metro Mattress Corp., the regional mattress seller, who provided the bankruptcy of Chapter 11 in 2024. September
These efforts collapsed and the company on 3 October. Submitted a proposal to the US bankruptcy court to the New York Northern District.
In the court application, “Sleep retailer said he could no longer maintain surgery because he could not secure the buyer and finish the funds to cover the advertising and after the petition,” said Furniture today.
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Date of feed: 2024. September 4th
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Court: US Bankruptcy Court, New York Northern District
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Case number: 5: 24-BK-30773
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Property: Less than $ 9 million
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Commitments: Over $ 23 million
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Creditors: Approximately 100 to 199
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The largest creditor: Tempur-Pedic, owes nearly $ 2 million
Source: Pacermonitor
Prior to the bankruptcy proceedings of Chapter 11, the Metro mattress shared a simple description of its business on its website.
In the Metro mattress, we are committed to giving our customers the highest quality mattresses, which are high since 1978. The Metro mattress is a leading retail retail in New York, providing customers a wide selection of brand mattresses to meet the needs of our customers. We are delighted to present our dedication and unmatched customer service in Connecticut, New Hampshire, Massachusetts and Rhode Island.
The company is proud to be the first customer business to help people find the right mattress for their needs.
You can expect our staff to be knowledgeable and professional, with great mattress hours and regulated basic training. When you come to us, you can rely on a consistent, informed and easy shopping experience with dedicated professionals who will give you a time to make the right decision about the mattress that will be perfect for you. We all mean the same thing: to be the best mattress company for your needs.