Innovative Mattress Solutions (IMS), parent company of Sleep Outfitters, Mattress Warehouse, and Mattress King, is in a transformative stage in our 35-year history. The industry, competitive pressures and customer expectations have changed, and we are changing to position ourselves for the future. Like many other retail companies, we have determined that voluntarily restructuring under Chapter 11 is a required component of this transformation process.
Tempur Sealy International, Inc. (TSI), manufacturer of Tempur-Pedic, Sealy and Stearns & Foster products, has announced a commitment to provide Debtor-In-Possession (DIP) financing to facilitate IMS’s continued operation and reorganization. The bankruptcy process is expected to be completed during the first half of 2019. Additional information about TSI’s DIP financing is available here.
IMS has always put our customers at the center of our business. We have served generations of customers, providing them with top brands, competitive pricing and true sleep expertise. We remain focused on providing our customers with the highest level of service and best products.
As the industry continues to rapidly evolve, we are focused on changing to address the new market place. Our priority is our customers and very talented employee base. We look forward to emerging from this process as a financially sustainable company that is innovative, customer-focused and positioned for profitable operation.