© Reuters. FILE PHOTO: A procuring cart is seen at a Mattress Tub & Past retailer in Manhattan, New York Metropolis, U.S., June 29, 2022. REUTERS/Andrew Kelly
(Reuters) – Mattress Tub & Past Inc (NASDAQ:) is contemplating gross sales of belongings and mental property as a part of a possible chapter submitting that might come as quickly as this weekend, Bloomberg Information reported, citing folks with data of the scenario.
The house items retailer can be seeking to safe funding from U.S.-based funding agency Sixth Avenue Companions to help its operations via Chapter 11 proceedings however the plans might nonetheless change, Bloomberg Information reported on Friday.
Mattress Tub and Past didn’t reply to a request for remark, whereas Sixth Avenue Companions declined to remark.
In January, Reuters reported that the embattled retailer was negotiating a mortgage to assist it navigate chapter proceedings, with Sixth Avenue in talks to offer some funding. The funding agency loaned Mattress Tub & Past $375 million in 2022.
Mattress Tub & Past raised doubts in January about its skill to proceed as a going concern, simply months after it introduced greater than $500 million in new financing, job cuts and 150 retailer closures.
