Hollander Gets Court Nod For $102 Million Sale, Bankruptcy Plan

Hollander Sleep Products LLC won court approval of its reorganization plan that would sell the bedding manufacturer to a private equity investor for $102 million.

Bedding Acquisition LLC, a company formed by Centre Lane Partners LLC, agreed to acquire Hollander for cash and warrants allowing the debtor the right to buy up to 7.5% of Bedding Acquisition’s shares.

Hollander canceled an auction in August, saying Bedding Acquisition’s offer was the only qualified bid it received.

Term loan lenders and another class of general unsecured creditors voted to accept the sale plan, which was approved Sept. 4 by the U.S. Bankruptcy ...