Jennifer Convertibles, Inc. Announces Decision to Deregister its Common Stock

WOODBURY, N.Y., Oct. 10, 2011 /PRNewswire/ -- Jennifer Convertibles, Inc. (the "Company") (www.jenniferfurniture.com) announced today that its Board of Directors unanimously approved the termination of the registration of its common stock under the Securities Exchange Act of 1934, as amended.  The Company will file a Form 15 with the Securities and Exchange Commission (the "SEC") to effect this on or about October 20, 2011.

After careful consideration, the Board of Directors decided to deregister based on its belief that the savings the Company will achieve as a result of deregistration, particularly on costs related to the preparation and filing of SEC reports and compliance with Sarbanes-Oxley obligations, will benefit shareholders, and such benefits will outweigh any advantages of continuing as an SEC reporting company. The obligation of filing SEC reports and complying with Sarbanes-Oxley has become too burdensome and expensive for a company of the Company's size.

Upon the filing of the Form 15, the Company's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q, and 8-K, will be suspended. The Company expects that the deregistration will become effective 90 days after the filing of the Form 15.

Jennifer Convertibles is the owner of the largest group of sofabed specialty retail stores in the United States, with 66 Jennifer Convertibles® stores and is the largest specialty retailer of leather furniture with 8 Jennifer Leather stores.  As of October 10, 2011, the Company owned 74 stores and operates six licensed Ashley Furniture HomeStores.

Contact: Jennifer Convertibles, Inc., 516-496-1900, [email protected]

SOURCE Jennifer Convertibles, Inc.