Judge allows RoomStore purchase of Mattress Discounters

A Maryland bankruptcy judge has approved the sale of Mattress Discounters to Goochland County-based The RoomStore Inc.

The parties hope to close the sale by Friday.

The deal is worth as much as $4.5 million, according to Brian D. Bertonneau, senior vice president and general counsel for RoomStore, a chain of furniture stores. The sale price, $4 million, is based on existing inventory, and $500,000 is based on lease arrearages.

RoomStore will operate the bedding chain as Mattress Discounters Group LLC in partnership with investor Ray Bojanowski, who will be chief executive officer. Corporate headquarters will move from Upper Marlboro, Md., to Northern Virginia.

It was unclear how many employees would follow the new company.

Bertonneau said Mattress Discounters will continue to run 72 stores, and close 18.

-- Louis Llovio