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72 | <strong>BedTimes</strong> | May 2009<br />
IndustryNews<br />
Simmons receives<br />
debt extensions<br />
atlanta-BaSed B e d d I n g prodUcer SIm m o n S announced that<br />
it has reached agreements with most lenders and<br />
holders of its $200 million in senior subordinated<br />
notes to extend forbearance periods to May 31, with<br />
an option to further extend forbearance periods<br />
through July 31 under certain conditions.<br />
The extensions provide Simmons with additional<br />
time to seek new capital while it undergoes an<br />
organized financial restructuring.<br />
Simmons said it is working with key stakeholders<br />
to design and implement the restructuring in a manner<br />
that maximizes value, preserves its relationships<br />
with customers, and protects suppliers and other<br />
constituents.<br />
“We appreciate the confidence and support that<br />
our lenders and note holders have demonstrated<br />
by extending these agreements with us,” said Steve<br />
Fendrich, Simmons president and chief operating<br />
officer. “Our goal is to maintain smooth day-to-day<br />
operation of the business through the restructuring<br />
process and beyond. I am pleased with Simmons’<br />
performance and our products continue<br />
to attract consumers in a very difficult economic<br />
environment.”<br />
Interzum Shorts<br />
Innofa stretches product line<br />
Innofa, a supplier of knit textiles for the mattress<br />
industry, has developed a new double-knit fabric it<br />
will show at Interzum Cologne. The shoulder and<br />
hip zones of the fabric have greater stretch capability<br />
and thus provide more comfort than other<br />
portions of the fabric, according to the company.<br />
It is designed for use over visco-elastic foam, latex<br />
and other materials. Innofa is based in Tilburg,<br />
Netherlands.<br />
Kingsdown rolls out new concept<br />
Mattress maker Kingsdown, headquartered in<br />
Mebane, N.C., will introduce its new Sleep to Live<br />
brand during Interzum Cologne. The Sleep to Live<br />
program encompasses a retail licensing program<br />
and manufacturing opportunities, as well as<br />
wholesale products and services. Sleep to Live is a<br />
turnkey program that includes in-store displays, a<br />
comprehensive advertising campaign and an array<br />
of sleep accessories, according to the company.<br />
www.sleepproducts.org/bedtimes
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