The Urethane Blog

Tempur Sealy Impacted by Customer Bankruptcy



Tempur Sealy International (NYSE:TPX) says it will record a pre-tax charge of $30M in Q4 to account for the impact of the bankruptcy of Mattress PAL Holding.

The company plans to treat the non-cash charge as an adjustment in calculating adjusted EBITDA under its senior secured credit agreement.

Looking ahead, Tempur Sealy doesn’t expect the loss of the customer to have a material impact on this year’s guidance or next year’s 2020 outlook.