STOUGHTON, Mass.–Consolidated Mattress and Amalgamated Mattress—the franchise operator of 1800mattress.com in New England, Philadelphia, central and southern New Jersey, and Florida—has challenged the proposed sale of the multichannel retailer to Sleepy’s.
In a statement issued this afternoon, the franchise operator said it is offering 1800mattress.com better terms on debtor-in-possession financing than Sleepy’s offered earlier this week. The offer is for financing on similar terms as offered by Sleepy’s, “but without the onerous restrictions Sleepy’s placed on the funds in its proposal,” the statement said.