US – Mattress Firm explores bankruptcy to close stores

According to different sources

Mattress Firm Inc. is exploring filing for bankruptcy and may close some of its money-losing stores in an effort to improve profitability, Reuters reported Monday. Mattress Firm is the largest mattress retailer in the U.S., with about 3,000 locations. Reuters said Mattress Firm’s parent company, South Africa-based Steinhoff International Holdings NV SNH, -0.82% is seeking a restructuring deal with its creditors, as it faces costly store leases and more competition from online retailers.

Shares of Tempur Sealy International Inc. TPX, +5.15% a rival of Mattress Firm, jumped more than 5% Monday.

With information from Reuters and marketwatch.com 

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