Bankrupt Hollander Sleep Products to Sell for $102 Million

Bankrupt Hollander Sleep Products LLC canceled an Aug. 19 auction and will sell the company’s assets for $102 million and other consideration after only one bid emerged.

Bedding Acquisition LLC placed the only qualified bid for the bedding product maker leading up to the auction date, Hollander said in an Aug. 16 filing in a Manhattan bankruptcy court. Bedding Acquisition will also issue warrants to give Hollander the right to purchase up to $7.5% of Bedding Acquisition’s shares.

Boca Raton, Fla.-based Hollander filed Chapter 11 on May 19, citing an “across-the-board” increase in costs, including new tariffs, and an unsuccessful ...