TL;DR
Mattress Firm has filed for Chapter 11 bankruptcy protection and plans to close 200 underperforming stores. The company aims to get out of approximately 700 leases while remaining in business.
Mattress Firm has filed for Chapter 11 bankruptcy protection and will soon close 200 underperforming stores, according to a CNN report .
While the mattress chain, which has more than 3,300 stores nationwide, plans to remain in business, it wants to ultimately get out of approximately 700 leases, according to the article.
"We will continue to provide unmatched value to our customers by offering the best quality beds at prices that fit any budget today, tomorrow and into the future," CEO Steve Stagner said, according to the article.
In this story
This story was originally published in 1851 Franchise on October 5, 2018. Burnaze summarizes and links to the original reporting.
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