HUNDREDS of staff at Silentnight face another nervous wait after a crunch meeting to stave off administration was postponed.

The troubled bed firm was due to put a company voluntary arrangement (CVA) to creditors and pension fund members today in a bid to address historic debts and a £100million pension black hole.

But the meeting was moved to next Thursday at the eleventh hour to allow pension fund trustees more time to study the proposals.

Bosses want to make a one-off payment to offload a final salary pension plan and admit Silentnight could be forced into administration unless it is voted through.

Trade creditors, meanwhile, will be offered 65p for every pound they are owed.

A Silentnight spokeswoman said: “The adjournments have been agreed with all stakeholders and follow extensive discussions between the company, the nominees and the Pension Protection Fund, which is the largest creditor.”

In the meantime, the company continues to trade as normal, she added.

The postponement of the meeting means another anxious wait for Silentnight’s 650 staff at its Barnoldswick plant, along with 500 others around the country.

Pendle MP Andrew Stephenson said: “My hope is that the CVA is approved.

“However, if the worst does happen and the company is put into administration, I am sure someone would come in and buy it.”

Mr Stephenson said he hoped any takeover would involve current management but said asset-stripping buyers would ‘inevitably’ be ‘circling’ the 65-year-old firm.

Silentnight hit trouble last month after Clydesdale Bank withdrew its services, pushing it into the red.

Manchester-based KPMG has been appointed to look after the CVA.