Mattress Firm, largest US mattress retailer, files for Chapter 11 bankruptcy protection

The largest U.S. mattress retailer, Mattress Firm, said Friday it has filed for Chapter 11 bankruptcy protection, as its corporate parent battles an accounting scandal and the retailer grapples with an onerous store footprint.

The retailer has 3,500 stores across the U.S., reflecting a time when the economics of mattress retailers was such that more was better. The stores are relatively cheap to run and faced little price competition. With new entrants like online retailer Casper now selling mattresses with little to no markup, that pricing umbrella has begun to collapse.

Could this maybe having something to do with the MF having stores on every street corner?

My god, they’re every where.

#meanwhile #corporatedollars