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    Bouncing back: Embattled Steinhoff to list America's Mattress Firm

    Steinhoff's Supervision Board, which is trying to bring the affairs of the once-vaunted furniture company to an orderly close, has announced one further step in the process.
    By Sasha Planting
    11 Jan 2022
    11 Jan 2022
    Source: Reuters/Mike Blake
    Source: Reuters/Mike Blake

    US-based Mattress Firm looks set to reemerge as a publicly-traded company almost six years after it was acquired by Steinhoff, and just over four years after Steinhoff imploded in a billion-rand accounting scandal that has yet to see the wrongdoers convicted of any offence.

    Mattress Firm, the largest speciality bedding retailer in the United States, is planning an initial public offering on the New York Stock Exchange and has filed an initial prospectus with the Securities and Exchange Commission.

    This will be the second listing of a major asset by Steinhoff in a year, as it grapples with debt that threatens to overwhelm it.

    Read the full article on Daily Maverick.

    Read more: Steinhoff, Mattress Firm
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    Source: Daily Maverick

    Daily Maverick is a unique blend of news, information, analysis and opinion delivered from our newsrooms in Cape Town and Johannesburg, South Africa. There are many ways to describe exactly what we do (and for the price of a cup of coffee we’re capable of talking your ears off about it), but the best way to understand the end result is to experience it. Every part of Daily Maverick is free-to-air and no payment is required, although free registration is required for a small subset of functions and pages.

    Daily Maverick is run by an independently owned, private company with no affiliation to any other media group (or political party or religious organisation.) Follow Daily Maverick on Twitter at @dailymaverick.

    Go to: https://www.dailymaverick.co.za/
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