October 31, 2018 / 12:03 AM / 9 months ago

Bankrupt Mattress Firm gets court OK for restructuring loans, sheds more leases

Mattress Firm Inc on Monday won court approval to borrow up to $775 million the company said would support it during its restructuring and pave the way for an exit from bankruptcy.

Judge Christopher Sontchi of the U.S. Bankruptcy Court in Delaware signed orders allowing Mattress Firm to enter into a $250 million debtor-in-possession facility to help fund its restructuring and that will provide $525 million in financing for emerging from Chapter 11 bankruptcy.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2SxiZCr

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