Mattress Firm Files For Bankruptcy, Expects To Close 35 Locations In Texas
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With an ongoing legal battle over claims of real estate fraud, increasing debt and rent obligations, Houston-based Mattress Firm filed for Chapter 11 bankruptcy in Delaware Friday morning and projects to close up to 700 stores in the U.S.
In Texas, the mattress retailer will shutter 35 locations over the next few days, a portion of the 200 stores to close throughout the nation. A&G Realty Partners will handle the store closure. To check out the full list of closures, click here.
The anticipated filing allows the company to reduce its footprint without interrupting payment to its vendors and employees, the company stated in a release.
“Leading up to the holiday shopping season, we will exit up to 700 stores in certain markets where we have too many locations in close proximity to each other,” CEO Steve Stagner said in a release. “We intend to use the additional liquidity from these actions to improve our product offering, provide greater value to our customers, open new stores in new markets, and strategically expand in existing markets where we see the greatest opportunities to serve our customers.”
Mattress Firm held a conference call with some of its landlords Friday afternoon to discuss the effects of the bankruptcy, sources tell Bisnow.
Stores to close in the greater Houston area:
1. 804 Interstate 45 North, Conroe.
2. 17689 Tomball Parkway, Houston.
3. 9319 Highway 6 South, Houston.
4. 6429 Westheimer Road, Houston.
5. 3115 West Loop South, Houston.
6. 1266 Fry Road, Houston.
7. 9930 Katy Freeway, Houston.
8. 1005 Westheimer Road, Houston.
9. 7592 FM 1960, Houston.
10. 1443 South Mason Road, Katy.
11. 349 South Mason Road, Katy.
12. 5710 Highway 6, Missouri City.
13. 11470 Broadway St., Pearland.
14. 20400 Southwest Freeway, Richmond.
15. 26526 Interstate 45 North, Spring.
16. 2735 Town Center Blvd., Sugar Land.
17. 1335 Lake Woodlands Drive, The Woodlands.
18. 19325 Gulf Freeway, Webster.
Store closures for the rest of Texas:
1. 4629 South Cooper St., Arlington.
2. 9705 Research Blvd., Austin.
3. 3200 West Anderson Lane, Austin.
4. 12908 Shops Parkway, Bee Cave.
5. 710 Old San Antonion Road, Buda.
6. 13000 North FM 620 Rad Southbound, Cedar Park.
7. 4826 Greenville Ave., Dallas.
8. 15340 Dallas Parkway, Dallas.
9. 1725 Interstate 35 East, Denton.
10. 4770 State Highway 121, Lewisville.
11. 1810 FM 685, Pflugerville.
12. 3937 North Central Expressway, Plano.
13. 537 East Interstate 30, Rockwall.
14. 115 Sundance Parkway, Round Rock.
15. 14791 Interstate 35, Schertz.
16. 2645 East Southlake Blvd., Southlake.
17. 5733 State Highway 121, The Colony.