Is it ‘goodnight’ for Mattress Firm?!
We don’t test products… we let other people buy them, and then we read their reviews on the internet. This makes online reviews one reason why Mattress Firm is filing for bankruptcy – because no one wants to drive to the store to lie down on a mattress. However, the company isn’t going anywhere – not yet, anyway.
Here’s the plan… the company has filed for Chapter 11 bankruptcy that will get them out of about 700 bad leases. Mattress Firm will close 200 of those stores and is debating on what to do with the other 500. Still, that figure represents only a fraction of the company’s 3,300 locations in the United States.
Too many stores… because Mattress Firm acquired Sleepy’s in 2016 and Mattress Giant in 2012. Now, there’s a freakin’ mattress store on every corner (which we don’t need). Having so many locations is not a great look, especially considering Casper and Amazon are killing it online (where all the action is at) and looking to expand a little into brick-and-mortar. But we will see in the coming months if the one-time mattress behemoth can wake up and smell the coffee!