May 9--Spring Air Co. abruptly closed its Salt Lake City mattress plant this week, throwing 50 or more employees out of work.

The closing of the Utah plant just to the west of West High School was part of a companywide shutdown by the 83-year-old Tampa, Fla.-based, mattress maker that followed the failure of Spring Air's senior management to arrange a leveraged buyout of the business.

"The deal collapsed around noon on Tuesday and by the end of the day most of the company's plants were closed," said Stan Steinreich, a public relations executive who represents Spring Air.

He said Spring Air is controlled by American Capital, an equity investment company based in Maryland.

Utah employees were told Tuesday the plant was shutting down and that they would be paid through the end of the day. Polk Directories show that the plant generated annual revenue of $10 million to $20 million and had 50 to 90 employees.

Furniture Today , an industry trade publication, listed Spring Air as the country's sixth-largest bedding producer based on its 2007 sales of approximately $272 million. Sales, however, are believed to have fallen below $200 million in 2008.

Spring Air's closing in Salt Lake City sent at least one area mattress retailer searching for an alternative supplier.

"We do business with a company out of Canada but we'd really like to find another local supplier," said Kelly Wallman, the owner of San Francisco Design

in Salt Lake City. "We've done business with Spring Air for at least 10 years and we're going to feel their absence."

Less than a month ago, Spring Air Chief Executive Steve Cumbow told Furniture Today that the company had positioned itself for long-term growth after having cut its costs and streamlined its operations.

Cumbow also talked of the company's plans this summer to open a new 351,000-square-foot plant in Oklahoma, its largest ever, to serve what was described as a growing dealer base in the Midwest.

There was no sign of any such prosperity at Spring Air's Salt Lake City plant on Friday as uniformed security guards patrolled the perimeter of the property. The plant manager declined to come to the door and sent out word that he had no comment on the shutdown.

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