March 27, 2024
A Delaware bankruptcy judge on Wednesday gave a thumbs-up to pillow-maker Pegasus Home Fashions Inc.'s Chapter 11 plan, months after the company completed a sale to investment firm Blue Torch Capital.
March 25, 2024
Pillow maker Pegasus Home Fashions Inc. told a Delaware bankruptcy court it should approve the company's reorganization plan so that it can set up a liquidation trust for the benefit of creditors and wind down its business.
October 04, 2023
Bankrupt pillow maker Pegasus Home Fashions has asked a Delaware judge to let it use nearly $803,000 to incentivize linchpin employees to stay with the company during its bankruptcy case.
September 27, 2023
A Delaware bankruptcy judge said Wednesday that she would allow pillow-maker Pegasus Home Fashions Inc. to go ahead with a sale process for its assets after the company reduced expense reimbursements for its stalking horse to $100,000 from $1 million, an amount the judge said had "shocked the court."
September 25, 2023
The U.S. Trustee's Office is asking a Delaware bankruptcy judge to reject pillow maker Pegasus Home Fashions' request to offer its Chapter 11 stalking horse bidder $1 million in expense reimbursement, calling it an unnecessary obstacle to bidding.
August 25, 2023
Pegasus Home Fashions got court approval Friday to tap into $25 million of bankruptcy financing from Blue Torch Finance LLC, a prepetition lender that also agreed to kick off a bankruptcy auction for the New Jersey pillow maker's business.
August 24, 2023
New Jersey-based pillow maker Pegasus Home Fashions filed for Chapter 11 protection in a Delaware bankruptcy court with over $81 million in debt, saying the company will be going up for sale within 75 days.