Mattress Firm Bankruptcy is Official
Mattress Firm officially filed for bankruptcy as expected, according to CNBC.
The Chapter 11 filing includes a notice that about 200 stores will close within a few days. The precise store liquidation plan of Mattress Firm could have implications for a number of retailers – including Tempur Sealy International (NYSE:TPX), Sleep Number (NASDAQ:SNBR), Hooker Furniture (NASDAQ:HOFT), Target (NYSE:TGT) via the Casper business and La-Z-Boy (NYSE:LZB).
Mattress Firm operates over 3K stores in the U.S., which could put a little bit of pressure on certain strip mall operators depending upon how many stores end up being boarded up.