May 19 (Reuters) -
* HOLLANDER SLEEP PRODUCTS TO IMPLEMENT FINANCIAL RESTRUCTURING THROUGH VOLUNTARY CHAPTER 11 FILING
* HOLLANDER SLEEP PRODUCTS TO IMPLEMENT FINANCIAL RESTRUCTURING THROUGH VOLUNTARY CHAPTER 11 FILING
* HOLLANDER SLEEP PRODUCTS SECURES $28 MILLION NEW MONEY DIP FINANCING FACILITY
* HOLLANDER SLEEP PRODUCTS- SECURED $118 MILLION IN DIP FINANCING, COMPRISING OF $28 MILLION IN INCREMENTAL "NEW MONEY" AND $30 MILLION OF COMMITTED "EXIT" FINANCING
* HOLLANDER SLEEP- CO, ITS PARENT, CERTAIN DIRECT AND INDIRECT SUBSIDIARIES ANNOUNCED THAT IT HAS FILED VOLUNTARY PETITIONS TO RESTRUCTURE UNDER CHAPTER 11
* HOLLANDER SLEEP PRODUCTS SAYS COMPANY FILED A CHAPTER 11 REORGANIZATION PLAN, WHICH IS SUPPORTED BY 100% OF COMPANY'S EXISTING TERM LENDERS
* HOLLANDER SLEEP PRODUCTS SAYS WILL BE RUNNING MARKETING PROCESS TO DETERMINE IF THERE ARE ALTERNATIVE TRANSACTIONS TO ENSURE THAT CO MAXIMIZES VALUE
* HOLLANDER SLEEP- CO'S CANADIAN SUBSIDIARY IS ALSO VOLUNTARILY COMMENCING PARALLEL PROCEEDINGS UNDER COMPANIES' CREDITORS ARRANGEMENT ACT IN CANADA
* HOLLANDER SLEEP PRODUCTS- EXPECTS CHAPTER 11 PROCESS TO LAST APPROXIMATELY FOUR MONTHS
* HOLLANDER SLEEP- CHAPTER 11 REORGANIZATION PLAN TO CONVERT ABOUT $166.5 MILLION OF CURRENT TERM DEBT INTO NEW EQUITY IN REORGANIZED COMPANY