Mattress Firm Bankruptcy

Mattress Firm to close 18 stores in the Houston area

Following the announcement that Houston-based Mattress Firm filed for Chapter 11 bankruptcy protection, the company’s CEO Steve Stagner went on a conference call with landlords of the company’s more than 3,000 brick-and-mortar stores around the country.

He elaborated on the company’s plan to close up to 700 stores, 200 of which will close in the next several days. Stagner said that immediately after the call, which took place at 11:30 CST on Oct. 5, Mattress Firm will be sending out requests for reduced rent. Stagner said the company doesn’t “have the luxury of time” and asked all landlords to respond to the reduced rent requests immediately.

“I want to be clear that we are only asking for what we need and have no wiggle room for negotiations,” Stagner said. “Unfortunately, without concessions, we will have to close more stores.”

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Mattress Firm Bankruptcy

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