In October 2018, the popular mattress retailer Mattress Firm announced that it would be filing for bankruptcy and closing approximately 700 stores across the country. This came as a shock to many customers, as Mattress Firm has been a household name for years, with over 3,500 stores in the United States. According to the company, the decision to close stores was necessary in order to restructure their business and reduce their overall debt. This move was also seen as a response to the increasing competition from online mattress retailers, such as Casper and Tuft & Needle, who have been gaining popularity among consumers.1. Mattress Firm to close 700 stores as part of bankruptcy filing
1. Mattress Firm to close 700 stores as part of bankruptcy filing
/cloudfront-us-east-1.images.arcpublishing.com/gray/VTVFPQIFC5MNJBAS43VKIXVMQQ.jpg)
If you're a loyal Mattress Firm customer, you may be wondering if your local store is one of the 700 that will be closing its doors. The company has released a list of the stores that will be shutting down, which you can find on their website or by contacting your nearest store. Some areas will be hit harder than others, with certain cities and states seeing a higher concentration of closures. This could be due to factors such as market saturation or lower sales in those areas. Either way, it's important for customers to check if their local store will be affected.2. List of Mattress Firm stores closing in your area
2. List of Mattress Firm stores closing in your area
The first wave of Mattress Firm closures is expected to impact 200 stores, with the company stating that they will be closing locations that are either underperforming or in close proximity to other Mattress Firm stores. This is just the beginning, as the remaining 500 closures will occur over the next few months. While this may seem like a significant number of closures, it's worth noting that Mattress Firm will still have a strong presence in the mattress market, with over 3,000 stores remaining open after the restructuring process is complete.3. Mattress Firm closing 200 stores in first wave of closures
3. Mattress Firm closing 200 stores in first wave of closures
One major city that will be affected by the Mattress Firm closures is New York City, where 20 stores will be shutting down. This is a significant number, considering that there are only 50 Mattress Firm locations in the entire city. Customers in New York City will now have fewer options when it comes to purchasing mattresses in-store, but they can still order online from Mattress Firm or explore other competitors in the market.4. Mattress Firm closing 20 stores in New York City
4. Mattress Firm closing 20 stores in New York City
Another major city that will see a reduction in Mattress Firm stores is Chicago, where 10 locations will be closing. This may not seem like a large number, but it's important to consider that there are only 30 Mattress Firm stores in Chicago, meaning that one-third of them will be shutting down. Chicago customers may have to travel a bit further to find a Mattress Firm store, but they can still take advantage of the company's online ordering and delivery options.5. Mattress Firm closing 10 stores in Chicago
5. Mattress Firm closing 10 stores in Chicago
California is another state that will be significantly impacted by the Mattress Firm closures, with 50 stores being shut down. This may be due to the high competition in the state, as there are many online mattress retailers as well as brick-and-mortar stores that offer similar products. However, California customers can still find a Mattress Firm store in many cities and towns throughout the state, so they won't have to look too far for their next mattress purchase.6. Mattress Firm closing 50 stores in California
6. Mattress Firm closing 50 stores in California
Texas is another state with a high concentration of Mattress Firm stores, but 30 of them will be closing in the near future. This could be due to a variety of factors, including market saturation and competition from other retailers. However, customers in Texas can still find a Mattress Firm store in most major cities, so they won't have to travel too far to find their nearest location.7. Mattress Firm closing 30 stores in Texas
7. Mattress Firm closing 30 stores in Texas
Florida is another state where Mattress Firm has a strong presence, but 15 stores will be closing as part of the restructuring process. This could be due to the fact that Florida is a popular retirement destination, and many residents may prefer to order mattresses online rather than visit a physical store. However, customers in Florida can still find a Mattress Firm location in most major cities, so they won't have to go far to find their next mattress.8. Mattress Firm closing 15 stores in Florida
8. Mattress Firm closing 15 stores in Florida
Customers in Pennsylvania will also see a reduction in the number of Mattress Firm stores in their state, with 25 locations closing. This may be due to the fact that there are many other mattress retailers in the state, and Mattress Firm may have faced stiff competition in certain areas. However, customers in Pennsylvania can still find a Mattress Firm store in most major cities, so they won't have to travel too far to find their nearest location.9. Mattress Firm closing 25 stores in Pennsylvania
9. Mattress Firm closing 25 stores in Pennsylvania
Georgia is another state that will see a significant number of Mattress Firm closures, with 40 stores shutting down. This may be due to market saturation or the rise of online mattress retailers in the state. However, customers in Georgia can still find a Mattress Firm location in most major cities, so they won't have to go far to find their next mattress.10. Mattress Firm closing 40 stores in Georgia
10. Mattress Firm closing 40 stores in Georgia
The Decline of Mattress Firm Stores: What is Causing the Shutdown?
The Rise of Online Mattress Shopping
With the convenience of online shopping, the traditional brick-and-mortar retail industry has been struggling to keep up. This has been especially evident in the mattress industry, with the emergence of online mattress companies such as
Casper, Purple, and Nectar
. These companies offer competitive prices, convenient delivery, and a variety of options, making it difficult for traditional mattress stores to compete. In fact, it is estimated that online mattress sales have increased by
15% annually
, while
brick-and-mortar mattress sales have declined by 10% annually
.
Over-saturation of the Market
Another factor contributing to the shutdown of Mattress Firm stores is the oversaturation of the market. In recent years, Mattress Firm has acquired several other mattress companies, including Sleepy's and Sleep Train, increasing their number of stores to over
3,500 locations
. This oversaturation has led to
poor store performance and declining sales
, ultimately resulting in the decision to close
700 stores
.
Consumer Preferences
In addition to the rise of online shopping and oversaturation of the market, consumer preferences have also played a role in the decline of Mattress Firm stores. With the increasing popularity of
eco-friendly and organic products
, many consumers are opting for mattresses made with
all-natural materials
. This shift towards sustainability has favored smaller, independent mattress companies rather than larger chain stores like Mattress Firm.
The Future of Mattress Firm
Despite these challenges, Mattress Firm is not completely going out of business. The company has filed for bankruptcy and plans to restructure and close underperforming stores in order to regain profitability. In addition, they are also looking to invest in their online presence and improve the in-store experience for customers. Only time will tell if these efforts will be enough to revitalize the struggling mattress retailer.
As the mattress industry continues to evolve and adapt to changing consumer preferences, it is clear that traditional brick-and-mortar stores like Mattress Firm will face challenges. However, with the right strategies and adaptations, there is still potential for these stores to thrive in the ever-changing retail landscape.
