Mattress Firm files for bankruptcy – CNN

New York (CNN Business)Online reviews have replaced going to a store to lie down on a mattress. That’s why Mattress Firm, America’s largest bed store, has filed for bankruptcy.

The chain said it plans to remain in business, but it filed for Chapter 11 bankruptcy protection to get out of about 700 unfavorable leases. Mattress Firm said it will quickly close 200 underperforming stores and make decisions about whether to close or maintain the other 500 locations in the coming weeks. There are more than 3,300 Mattress Firm stores in the United States.

Source: Mattress Firm files for bankruptcy – CNN

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