A well-known UK-based mattress and bedding company recently announced it was working on a financial reorganisation to secure its future. Now, the owner of the brand has successfully completed an insolvent restructure following the administration of the company's Mammoth Sit and Sleep Limited. Founder and CEO John Tuton executed the reorganisation through a new company, Blue Dragon Assets, which is owned by another entity he controls.
Photo: Mammoth.
Details regarding the circumstances of the restructure and other stakeholders involved have not been disclosed. Mammoth is recognised for its innovative medical-grade foam technology and unique marketing concepts. The company's bedding and sleep products are sold through major furniture retailers and independent stores, with manufacturing handled by licensed partners. This restructuring aims to stabilise the brand and continue its presence in the competitive bedding market.
Source: www.thefurnishingreport.com