From Home Furnishing Business
Bankruptcy Court Approves Sale of Corsicana Mattress
A U.S. Bankruptcy Court judge has approved the sale of Corsicana Mattress to Blue Torch Finance, paving the way for the mattress producer to emerge from Chapter 11 bankruptcy protection.
The sale, overseen by the bankruptcy court in Fort Worth, Texas, makes Blue Torch the sole owner of the company. Prior to the sale, Blue Torch was the majority owner in partnership with Long Point Capital and KKR.
“The sale is complete, and the new ownership enables Corsicana to emerge from Chapter 11 as a stronger company with the ability to build on its long-standing foundation as the nation's largest private retail mattress manufacturer," said Corsicana CEO Eric Rhea. "We've restructured our company and strategically defined our footprint within key distribution channels to serve our customers better, so we can deliver high-quality sleep products coast-to-coast, handcrafted in the USA for the best possible price—enabling the Corsicana business to continue for another 50 years as the premier value-priced mattress partner."
"We sincerely appreciate our loyal customer base and strategic suppliers," Rhea added. "Corsicana remains highly focused on providing our customers with exceptional service and products. We are thankful for the continued hard work and devotion of our employees and their focus on making Corsicana the most efficient and effective mattress supplier in the industry."
Corsicana filed for Chapter 11 on June 25. For more information about the case, visit www.donlinrecano.com/corsicana.