Mattress Firm files for bankruptcy, closes stores: photos - Josh Loe

Mattress Firm files for bankruptcy, closes stores: photos

Mattress Firm
Mattress Firm has come under scrutiny for having too many stores.

It has been an eventful few months Mattress Firm.

In the span of a year, the mattress retailer has been accused by internet sleuths of running a money-laundering operation, announced it would be closing almost 200 stores, watched on as its parent company’s business practices have been investigated, and battled an ongoing lawsuit against two former employees, a broker, and a group of developers, accusing them of conspiring to push the company to aggressively expand and open stores.

On Friday, it filed for Chapter 11 bankruptcy protection and announced it would be closing as many as 700 stores.

With an estimated 3,272 stores, it is the largest specialty mattress retailer in the US, and it’s not uncommon to find many of its stores right across the street from each other. Increasingly, it has come under pressure as new startups like Casper find ways to improve the experience of shopping for this high-ticket item.

We tested the experience of shopping at one of its stores back in April. Here’s what it was like:

To hear more of the stories around Mattress Firm’s stores, listen to “Household Name,” a new podcast from Business Insider. Subscribe for free on Apple Podcasts, Stitcher, or your favorite podcast app.

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