Reuters reported that Steinhoff International’s Asia Pacific unit is trying to distance itself from its South African parent company, which is being rocked by an accounting scandal. The company’s banks are cutting credit lines and its chief executive has left the firm, which acquired U.S.-based Mattress Firm last year.
Mattress Firm closed a new facility last week, but is reported to be closing 200 stores across the U.S.
Following the story:
Barclays Agents $225MM ABL Facility for Mattress Firm
Barclays, J.P. Morgan, Others Arrange Mattress Firm Facility
