Equities

Reuters first to report Mattress Firm exploring U.S. bankruptcy; market reacts

Reuters first to report Mattress Firm exploring U.S. bankruptcy; market reacts

Shares of Tempur Sealy International Inc rose 5.2 percent after Reuters was first to report that competitor Mattress Firm Inc, the largest U.S. mattress retailer, is considering a potential bankruptcy filing as it seeks ways to get out of costly store leases and shut some of its 3,000 locations that are losing money. Mattress Firm’s deliberations offer the latest example of a U.S. brick-and-mortar retailer struggling financially amid competition from e-commerce firms such as Amazon.com.