Friday, October 5, 2018

Mattress Firm files for chapter 11 bankruptcy

Mattress Firm has filed for chapter 11 bankruptcy protection, according to its parent company, Steinhoff International Holdings N.V. The company is aiming to restructure its balance sheet and debt, while continuing to serve customers at its stores and online, Steinhoff said in a release. The company is aiming to reject up to 700 leases and will close an initial batch of about 200 stores in the next few days. Decisions regarding further store closures will be made in the coming weeks. . . . more