Mattress Firm Eyes Bankruptcy, Store Closures

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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

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