Another US retail chain closes stores on the verge of bankruptcy

The American retail company and Mattress Firm mattress stores are going through hard times. On Friday, the firm, which has 3300 stores across the country, filed for bankruptcy and plans to close some of the most inefficient selling points around 700.

Фото: Depositphotos

The procedure will allow the company to repay part of the debts and strengthen the financial balance, writes New York Post. The first 200 stores are expected to close their doors in the coming days.

In 2015, Mattress Firm acquired a Sleepy's mattress retailer for 780 million dollars, adding over a thousand stores to its portfolio. The company also stood up to the fast-growing online bed-in-a-box manufacturers of mattresses, including Casper.

"It's people like us who sell mattresses directly to those consumers," said Vincent Vitton, chief marketing officer at online mattress company Christeli, which has seen double-digit growth in results over the past few years.

“We intend to leverage the added value of these actions to improve our offering, add value to our customers, open new stores in new markets, and strategically expand our presence in existing ones where we see the greatest opportunity to serve customers,” said Mattress Firm CEO Steve Stagner.

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