By Nathan Bomey | USA TODAY
Mattress Firm plans to close up to 700 stores as part of its Chapter 11 bankruptcy, including more than 200 within days.
The nation’s largest mattress retailer said in a court filing that it will not conduct typical liquidation sales, where customers might otherwise score a going-out-of-business deal.
Instead, it will transfer mattresses to other stores, warehouses or distribution centers, or could “decide to abandon” showroom products altogether, according to a court filing.
After a major acquisition spree in recent years, the chain has 3,230 company-owned stores and another 125 franchised locations. It has nearly 10,000 employees.
The company expects to stay in business despite significant challenges, including sales declines and competition from bed-in-a-box online sellers such as Casper and Leesa.
