Wickline Bedding Files For Chapter 7 Liquidation

Posted by slone on October 2nd, 2009 at 07:00am

Wickline Bedding, an independent mattress producer that has been in business for half a century has ceased it’s operations and filed for Chapter 7 bankruptcy liquidation. The Escondido, California based company listed assets of just over $3 million and liabilities that totaled almost $50 million in the court documents.

However, a spokesman for the ailing company stated that at least one of the liabilities listed in the documents totaling $45.5 million was incorrect. The claim is from Crystal Bedding, a raw materials supplier. The spokesman said that the company is owed around $45,000 which would significantly reduce the total liabilities.

Wickline was founded in 1949 and was purchased in 1979 by Ray Malkiewicz a former Simmons executive. His son, Mike, now serves as the president and his other sons and son-in-law are also executives. Mike Malkiewicz said that him and his family hope to remain in the bedding business.

Under Furniture News