N.C. mattress maker files for bankruptcy
Posted on Wednesday, January 7th, 2015 at 7:26 pm
Thomasville-based company Carolina Mattress Guild Inc. recently sought bankruptcy protection, an article of Fox 8 reported on January 3.
The Chapter 7 Bankruptcy document filed by the family-owned business December 15 revealed that their finances are insufficient to settle their debts with unsecured creditors. Carolina Mattress reportedly listed $5.93 million in liabilities while their assets listed only totaled $1.7 million. They also failed to give the salaries of their 77 employees last November. The local company successfully competed with national brand for over twenty years. Many were surprised to hear about the companies financial troubles.
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