Foamex noteholders approve Ch. 11 plan
By Furniture Today Staff -- Furniture Today, January 14, 2007
Linwood, Pa. — Foam supplier Foamex said holders of its senior secured notes have unanimously voted to accept its Chapter 11 reorganization plan.
Holders of equity in the company have until 4 p.m. Eastern time on Jan. 18 to vote on the plan, Foamex said.
Chairman and CEO Raymond E. Mabus Jr. said the approval by noteholders was "another significant step" in the company's progress toward emerging from Chapter 11 bankruptcy protection. A hearing to consider confirmation of the plan is scheduled for Feb. 1 in U.S. Bankruptcy Court for Delaware.
Information about the company's reorganization case is available on the Foamex Web site at www.foamex.com/restructuring.
Foamex produces foam used as cushioning in the bedding, furniture, carpet cushion and automotive markets, and high-performance polymers for other applications.
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