Foamex International Inc (fka FMXLQ)

[aquaspin]

Sounds like the Foamex businesses will emerge from chapter 11 as a private company if the sale is finalized. I wonder what this means for shareholders?

“Once the sale is approved, the Foamex businesses will emerge from chapter 11 as a
stable and competitive private company with a much stronger balance sheet,” said Jack
Johnson, President and Chief Executive Officer. “When the proposed transaction is
completed, Foamex will have a capital structure more suited to today’s challenging
business environment, and we will be in a position to build on the operating momentum
and technological leadership we have gained in recent years,”