Daily News
From Home Furnishing Business
Latex Int'l No Longer on Sales Block
December 3,
2014 by in Industry, Legal 
Foam mattress and pillow manufacturer Latex International announced it has reached an agreement with unsecured creditors and filed a joint reorganization plan in its bankruptcy case.
In addition, the Shelton, Conn.-based is no longer for sale.
“This plan is the culmination of several months of reorganization and restructuring of our business, including the rebuilding of our primary production facility that had been severely damaged by fire," said Latex International's President and CEO David Fisher. "We are grateful to our loyal customers, vendors and employees whose support has been overwhelming during this process. We said at the time of our filing that this was a strategic decision to restructure a healthy business that was burdened by financial debt obligations from agreements put in place years ago. Relieving ourselves of those burdens puts our company in a position where it can finance itself from operations. The restructuring and post-fire rebuild of our state-of-the-art equipment has allowed us to reduce lead times, enhance customer service, and improve our first quality to 99 percent. This, coupled with over 99 percent on-time delivery, truly does enhance our customers' experience.”
The company filed for Chapter 11 protection in U.S. Bankruptcy Court for the District of Connecticut on May 30; and suffered a fire in its principal dryer on June 26 of this year.