In an article for the Washington Post on October 5, 2018, Stephanie Lieb provided insight on Mattress Firm’s bankruptcy filing as it surrenders to increased online competition and joins the string of national retailers that have filed for bankruptcy in recent years.
With 3,400 stores across the nation, Mattress Firm’s chief executive stated that the company will close up to 700 stores in areas where there are too many locations. Additionally, Mattress Firm couldn’t keep up its sales compared to their non-traditional competitors given the rise of “bed-in-a-box” businesses like Casper and Tuft & Needle.
“Between declining sales and over-expansion, it’s been a downhill battle for Mattress Firm,” explained Lieb. “If consumers are going to a brick-and-mortar location, it’s because they want better service. Not just a mattress.”
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