Mattress Firm
People do need mattresses. However, there’s a chance that you might not get to buy a new one from Mattress Firm any longer. On October 5, 2018, the company filed for Chapter 11 bankruptcy protection according to CNBC. Their difficulties in finances were partly because of an accounting scandal and what CNBC called “an onerous store footprint.”
Mattress Firm
Mattress Firm announced that it planned to put 700 of its 3,500 stores on the market and 200 planned to cease operations just days after the bankruptcy announcement. It aims to get out of unnecessary leases and successfully restructure its business. The next company on this list also filed for Chapter 11 bankruptcy protection.
National Stores
This company that started in Los Angeles also owns Conway, Anna’s Linens, and Fallas. In August 2018, the company filed for Chapter 11 bankruptcy, stating that it planned to stop operations of 74 of its over 340 stores in Puerto Rico and the U.S., according to CNBC. The said publication even went on to say what may have caused the company’s problems.
National Stores
The fact that National Stores has acquired many brands throughout the years may have caused it to take on a lot of debt. This possibly dragged the whole business – including all of its brands – down into bankruptcy. Today, locations are in stand-alone shopping centers or in open-air. Up next is a company from California that filed for Chapter 11.
