DGAP-News: Steinhoff International Holdings N.V. : Mattress Firm Financial Restructuring

Steinhoff - Mattress Firm Financial Restructuring

Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group")

The Company refers to its announcement on 19 November 2018 in respect of the approval by the US Bankruptcy Court of the pre-packaged chapter 11 plan filed by its subsidiary, Mattress Firm, Inc. and its affiliates (together ("Mattress Firm")).

The Company is pleased to announce that on 21 November 2018, Mattress Firm emerged from chapter 11 after successfully completing its reorganisation pursuant to its approved chapter 11 plan. In accordance with its chapter 11 plan, Mattress Firm emerged with access to $525 million in exit financing and successfully exited approximately 660 underperforming stores.

Mattress Firm believes that the reorganisation implemented by the chapter 11 plan positions it for long-term success for the benefit of all of its stakeholders.

Danie van der Merwe, acting CEO of the Company said,

"We are pleased that Mattress Firm has emerged from the Chapter 11 process within the 45 to 60 day timeframe initially targeted. This short process has enabled Mattress Firm to strengthen its balance sheet and optimize its store footprint, and it emerges as a stronger and more competitive company. Today's announcement is a further positive step in the wider Steinhoff restructuring process, which continues to make good progress."

Shareholders and other investors in the Company are advised to exercise caution when dealing in the securities of the Group.

Stellenbosch, 22 November 2018