Mattress Discounters auction now set for Tuesday

Larry Thomas -- Furniture Today, November 2, 2012

RICHMOND, Va. — A court-supervised auction to sell bedding retail chain Mattress Discounters has been rescheduled for Tuesday, according to U.S. Bankruptcy Court officials here.

Top 100 retailer Sleepy's and the investment firm Longroad Asset Management are the only two qualified bidders named by the trustee overseeing the auction.

The 80-store Mattress Discounters chain isn't in bankruptcy, but parent company RoomStore Inc. is in the midst of Chapter 7 liquidation proceedings.

If the auction is completed Tuesday as scheduled, a hearing to confirm the sale has been scheduled for 3 p.m. Wednesday before U.S. Bankruptcy Judge Douglas Tice.

The auction originally was scheduled for Oct. 29, but has been delayed because much of the Northeast - where Sleepy's and Longroad are based - is still recovering from Hurricane Sandy.