Consolidated Bedding Inc., the makers of Spring Air mattresses and bedding has filed for bankruptcy protection after selling many of its assets and brand name to a former executive, Edward Bates. Bates has formed E&E Bedding.

The company, founded more than 80 years ago, also sold Nature's Rest branded mattresses. For more than one year, Consolidated Bedding had been running at an operational loss and has closed facilities and laid off staff as part of reorganization attempts. As consumers delay big ticket purchases, mattress retailers across the country have felt the pinch. Retailers 1-800-Mattress, Mattress Discounters Corp and Foamex International have all sought bankruptcy protection in the past twelve months.