Foamex International Inc. emerged from Chapter 11 bankruptcy protection Feb. 12, after the U.S. Bankruptcy Court in Wilmington, Del., approved its reorganization plan.
Under the plan, companies with allowed claims against Foamex will be paid in full, according to the company. Foamex, which produces flexible polyurethane foam products, entered bankruptcy protection in September 2005.
Linwood-based Foamex also emerges with a new president in place. Gregory J. Christian, who joined the company in 1996, was promoted to the top post.
Christian had been serving as executive vice president, chief restructuring officer, chief administrative officer and general counsel.
Chairman and Chief Executive Officer Raymond Mabus said Foamex now is a stronger, leaner company with the financial flexibility needed to compete.