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S3 Ep4: LIVE From The Whalies - Serta Goes Bankrupt, Nik’s Long Wknd Mistakes, Plus A Q&A Session
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A Mattress Company Goes Bankrupt, and They Get Paid Back First
A mattress company called Tuft and Needle declared bankruptcy on January 23rd. They were bought by private equity firm for $3 billion but had about $2 billion in debt. The business goes bankrupt, the guys who were in their first position continue to have $200 million in debt in the new business. After they sold their business, they've got promotions on a daily basis. This is their website today. Presidents' day sales save up to $625 off mattresses. I was always really interested in mattresses because a long time ago I was going to start a mattress business instead of a deal to a business.
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