Royal Mattress, a retailer and former mattress manufacturer based in Burlington, Ontario, has filed for bankruptcy protection. The company’s Burlington headquarters and six retail stores were seized and locked by bankruptcy trustee Grant Thornton, The Hamilton Spectator reported June 20.
The company is owned by Philip Kriszenfeld and his wife, Diane.
The news source said creditors are owed more than $1.7 million against assets of $510,000. There are 73 unsecured creditors including Serta Mattress, which is owed about $282,000. Serta began making mattresses for Royal Mattress about a year ago, when the company closed its manufacturing operation.
The manufacturing closure was linked to the loss of a major account, Ikea North America, The Guelph Mercury reported in a story about the bankruptcy filing.
At its height a few years ago, Royal Mattress employed 70 in its manufacturing plant and six retail locations in Burlington and Hamilton.