The Real Deal New York

Bankrupt Mattress Firm seeks Nassau County tax breaks

November 19, 2018 01:52PM

Mattress Firm, which filed for Chapter 11 protection in October, has applied to get additional tax breaks from Nassau County in exchange for keeping its workforce at an office and warehouse in Hicksville, Newsday reported. The site was the headquarters of Sleepy’s, which Mattress Firm bought for $780 million in late 2015. The combined company then assumed the remainder of a 10-year deal that reduced property taxes on a 450,000-square-foot building owned by local developer Steel Equities. That deal expires on Jan. 1. The Nassau County Industrial Development Agency agreed to negotiate with Mattress Firm on the tax breaks. The company, in exchange, promised to make $500,000 in improvements to the building and preserve some jobs. [Newsday]