Jennifer Convertibles, Inc. (fka JENNQ)

[Soapy Bubbles]

Jennifer Convertibles Emerges from Chapter 11 Bankruptcy

WOODBURY, N.Y., Feb. 23, 2011 /PRNewswire via COMTEX/ -- Jennifer Convertibles,
Inc. ("Jennifer Convertibles") announced today that it has successfully emerged
from a Chapter 11 reorganization process.

"This is an important day for Jennifer Convertibles. We are emerging as what we
believe to be a stronger organization that will better satisfy its customers,
suppliers and employees," said Rami Abada, President of Jennifer Convertibles.
"We have worked diligently to maximize recovery for our creditors, while
maintaining our focus on our core business of delivering quality home furnishings
to our customers. We are excited, as we believe we are poised to provide our
customers with some of the best values in the home furnishings industry. We are
confident that our superior supply chain will not only provide our customers with
great value but also great style and quality."

Jennifer Convertibles' principal supplier and creditor, Haining Mengnu Group Co.,
Ltd. ("Mengnu Group"), received approximately 90% of Jennifer Convertibles' new
equity securities with the remainder of the new equity securities to be
distributed amongst certain of Jennifer Convertibles' former creditors. The
former equity interests have been cancelled.

Jennifer Convertibles' new management team will be led by Chief Executive
Officer, Gebing (Morris) Zou, and President, Rami Abada.

About Jennifer Convertibles

Jennifer Convertibles is the owner of the largest group of sofabed specialty
retail stores in the United States, with 64 Jennifer Convertibles(R) stores and
is the largest specialty retailer of leather furniture with eight Jennifer
Leather stores. Currently, Jennifer Convertibles owns 72 stores and operates six
licensed Ashley Furniture HomeStores. For more information about Jennifer, please
visit Jennifer Convertibles' website at http://www.jenniferfurniture.com. For
investors, please also visit the "Investors" section of Jennifer Convertibles'
website at http://investors.jenniferfurniture.com.

Forward-Looking Statements

Statements in this press release other than the statements of historical fact are
"forward-looking statements." Such statements are subject to certain risks and
uncertainties, including changes in retail demand, vendor performance and other
risk factors identified from time to time in Jennifer's filings with the
Securities and Exchange Commission that could cause actual results to differ
materially from any forward-looking statements. These forward-looking statements
represent Jennifer's judgment as of the date of the release. Jennifer disclaims,
however, any interest or obligations to update these forward-looking statements.

SOURCE Jennifer Convertibles, Inc.

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