WILMINGTON, Del.–Consolidated Bedding, a licensee of Spring Air, has filed a Chapter 7 bankruptcy petition with the U.S. Bankruptcy Court here.
The filing is one of 20 cases began by Consolidated Bedding and its affiliates. In the filing, Consolidated identified itself as the sole shareholder and equity holder of Spring Air Co., Nature’s Rest Inc., and a number of other companies connected with Spring Air. Consolidated said in the filing that it and each of the other entities have been running at an operational loss “for at least the last year.”
Spring Air’s manufacturing facilities were closed in early May, after a potential sale of the company by its owner, American Capital, to Riverside Co., a private equity firm, fell through.