Mattress manufacturer The Foam Company has put itself up for sale following the loss of its licence to produce Mammoth branded products.
While Mammoth was a large proportion of its business, it also owns the Sleepshaper and Sonlevo brands and manufactures various white label and private label products.
‘Following the termination of the Mammoth agreement last week, and the fact that we are not permitted to produce any more Mammoth mattresses, we have worked closely with our advisers and reached the conclusion that it is in the best interests of all concerned to seek a sale of the business,’ says a statement.
‘The marketing process has commenced, there are a number of seriously interested parties and we anticipate concluding a “pre packaged” administration sale that will not result in a cessation of trade. It is likely the business will enter into administration at some stage as part of that process, and we have registered that intention with the courts.
‘Given that we are not permitted to supply Mammoth mattresses, we have had to make the difficult decision to cease production of all products with immediate effect. However, we do hope for a bright future for all those associated with the business if we are able to secure a sale, and we are focusing all our attentions on achieving that. We thank you for your support and patience whilst we do this, and will update you as best we can in the near future.’
