Serta Simmons Bedding Emerges From Bankruptcy

Serta Simmons Bedding said it concluded its financial restructuring and has emerged from Chapter 11.

• New board appointed. Previous members Huff and Brandi Thomas to continue. Mark Genender, who previously sat on the Simmons Board, will serve as Chairman
• Other board members include Charlie Eitel, Jim Fogarty, Alan Shaw, and an additional board member to be announced
• Reduced its funded debt from about $1.9 billion to about $315 million
• Obtained $100 million revolver
• EARLIER: Mattress Company’s Infamous Debt Deal Gets Court Blessing (1)

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