New York State's pension funds have invested $12.9 million in mattress retailer Sleepy's, state Comptroller Thomas DiNapoli announced today.
Speaking inside the company's cavernous warehouse in Hicksville, DiNapoli said he is confident the state will recoup its investment in Sleepy's and more.
The state money, from the Common Retirement Fund, is part of a recapitalization of the 825-store chain, according to Adam Blank, Sleepy's chief operating officer. He said the company is growing and hiring employees aggressively. “This will allow us to invest and positions us for growth.”
Pictured: Comptroller Thomas DiNapoli