(1)U.S. bed mattress maker Sita Simmons files for bankruptcy protection
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(2)Reporter Yoon Ji-hye Input 202301251046 Modified 202301251051
(3)Salta Simmons Salta Simmons website Galmuri = Yonhap News
(4)Bloomberg reported on the 24th local time that Silda Simmons, a company with a 20 share of the U.S. bed mattress market, filed for bankruptcy protection to settle debts.
(5)The company filed for bankruptcy protection under Chapter 11 of the Bankruptcy Act in the Southern District Court of Texas on the night of the 23rd.
(6)In his application, Sita Simmons proposed reducing the current debt of about $1.9 billion by about 2.3 trillion won by about $300 million and 370 billion.
(7)The company also asked the court to approve the bankruptcy protection application by May 8, if possible, asking for a loan of $125 million and about 154.3 billion won for the company’s operations, including the salaries of 3,600 employees.
In Korea, Ace Bed, Simmons, and Silta are all one family, but Simmons is licensed and operated.