As the Federal Reserve continues to raise the price of financing purchases, Houston-based...
The move to halt its IPO is just the latest twist in a recent roller-coaster ride for the company founded in Houston in 1986. From 2007 to 2016, it gobbled up competitors and turned them all into Mattress Firm stores, becoming the dominant player in the U.S. mattress industry with more than 3,300 stores, 9,500 employees $3.2 billion in revenue.
With the rise of Amazon and other online startups like Casper, Mattress Firm buckled under stiff competition and the cost of operating so many stores. In 2016, the company found what it believed was a savior in Steinhoff, which acquired Mattress Firm for $3.8 billion. But just one year later,Also in 2017, Mattress Firm and Tempur Sealy separated after the retailer proposed a new contract proposal with the mattress supplier that sought significant economic concessions.
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