|More from: | PYMNTS |||
As Mattress Firm, Inc. looks to shutter money-losing locations and find its way out of leases, people familiar with the company say that the retailer is mulling a bankruptcy filing. On the news, Tempur Sealy International Inc.’s stock rose 5.2 percent and closed at $52.64, Reuters reported.
Steinhoff International Holdings NV, which is the parent of Mattress Firm and acquired the company in 2016, has reportedly sought to restructure some of its subsidiaries’ debt. In July, creditors said they would halt debt claims for a three-year period. Even so, sources told Reuters that the mattress company’s plans are still in flux and that final decisions have not been made. Steinhoff and Mattress Firm are also reportedly
Read full article » https://www.pymnts.com/news/retail/2018/mattress-firm-bankruptcy-steinhoff/
About | PYMNTS |
PYMNTS.com is reinventing the way in which companies share relevant information about the initiatives that shape the future of payments and commerce and make news. This powerful B2B platform is the #1 site for the payments industry by traffic and the premier source of information about “What’s Next” in payments and commerce. C-suite executives, company founders, and investors turn to it daily for these insights, making the PYMNTS.com audience the most valuable in the industry. It provides an interactive platform for companies to demonstrate thought leadership, popularize products and, most importantly, capture the mindshare of global decision-makers. It’s where the best minds and best content meet on the web. Innovations in payments and commerce have become highly intertwined. PYMNTS covers every aspect from retail reinvention to the Internet of Things.