Simmons Aims To Put Ch. 11 Case To Bed

Law360, New York (January 6, 2010, 1:51 PM EST) -- A bankruptcy judge has signed off on Simmons Bedding Co.'s plan of reorganization, paving the way for the mattress maker to exit Chapter 11 in late January with less than half as much debt after a $760 million sale to the equity investors that also control rival mattress brand Serta.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware on Tuesday approved the debtor's disclosure statement, voting procedures and solicitation, and confirmed the prepackaged plan.

Simmons said the decision will allow...
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