Daily News
From Home Furnishing Business
Hearing Set for Talalay Global in Chapter 11 Case
June 25,
2015 by in Bankruptcy, Industry 
A bankruptcy hearing has been set for July 28 to review a reorganization plan filed by latex supplier and producer Latex Foam International.
The company, now operating as Talalay Global, filed Chapter 11 in May 2014.
The joint plan of reorganization, filed with the U.S. Bankruptcy Court in Connecticut, is supported by the company’s secured and unsecured creditors, and outlines a restructured business. Under the plan, the company said it will be better positioned to serve its customers, work with its vendors, and provide for its employees.
All of the company’s subsidiaries, including Latex International and Pure LatexBliss, are part of the reorganization filing.
Since the filing, Talalay Global has had no disruption of service.
The company has not required any debtor in possession financing from outside sources during this process, as Talalay’s cash flow has been more than adequate to satisfy financial needs.
“I really want to express my thanks to our customers, vendors, creditors, and employees for coming together to guarantee that we met all the objectives of restructuring to maintain our position as the global leader in Talalay,” said David Fisher, president and CEO. “We used the Chapter 11 process in the appropriate way to meet our obligations and insure the financial health of the company for many years to come.”