Foamex International requests two-month exclusivity period extension

By Jennifer Lanning Drey

Portland, Ore., June 12 - Foamex International Inc. requested a two-month extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend the exclusive plan-filing period to Aug. 18 from June 18 and the solicitation period also by 60 days to Oct. 19.

Foamex said it is evaluating options to determine the best strategy for maximizing value for its creditors.

The company said the early part of its bankruptcy was spent stabilizing the business, implementing a debtor-in-possession credit facility and marketing and negotiating the sale of its assets.

A hearing is scheduled for July 16.

Foamex, a Media, Pa.-based producer of polyurethane foam-based and specialty comfort products, filed for bankruptcy on Feb. 18 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-10560.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.