DORAVILLE, Ga.–(BUSINESS WIRE)–Serta Simmons Bedding, LLC (SSB or the company), one of the leading global sleep companies, today announced that the company is taking steps to strengthen its financial position as it continues to support long-term growth.
SSB has entered into a Restructuring Support Agreement with key financial stakeholders that will significantly reduce the companys debt and enable the company to continue making critical investments in its business and brands. To implement the restructuring contemplated by the agreement, most of SSBs U.S. corporate entities have initiated a voluntary pre-arranged court-supervised process under Chapter 11 of the U.S. Bankruptcy Code.
The company is operating as normal and is serving ret…
Read the full article at: https://www.businesswire.com/news/home/20230123005830/en/Serta-Simmons-Bedding-Takes-Decisive-Actions-to-Strengthen-Financial-Position-and-Drive-Long-Term-Growth