Mattress Firm Raising Profile, Seeking IPO

In September, Houston-based Mattress Firm accelerated marketing efforts for its website launched in 2020, made donations to assist Afghan refugees and confidentially filed paperwork with U.S. regulators for an initial public offering in the United States.

The sleep shop chain is owned by embattled South African retail group Steinhoff International Holdings NV. In August, Reuters reported Steinhoff was exploring its options for Mattress Firm, including an initial public listing to help pay back investors. Steinhoff has been restructuring its debt, selling off assets and taking other steps in the wake of a 2017 massive accounting scandal. 

The website, which is billed as a “go-to resource for learning how to sleep better and feel better,” is now supported by the Sleep Team. It’s composed of an eclectic mix of medical professionals, researchers, cultural tastemakers and sleep enthusiasts, the company said. “Part superhero squad and part advisory board, the Sleep Team will share insights and strategies that readers can use to develop a more meaningful relationship with rest and in turn, get the most out of their sleep schedule,” a press release added.

Also in September, Mattress Firm pledged to donate $50,000 and 450 mattresses to support resettlement efforts of Afghan refugees in Texas and other parts of the United States. The grants and beds will be distributed to three organizations: The Alliance, Refugee Services of Texas and the International Rescue Committee.

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