FINANCE

Report: Mattress Firm to close some stores

BY CSA STAFF

The largest mattress retailer in the United States plans to reduce its store portfolio, which has expanded in recent years due to a series of major acquisitions.

Mattress Firm, which was acquired by Steinhoff International Holdings in 2016, plans to close about 200 underperforming and duplicate stores during the next 18 months, reported Bisnow Houston.

“As a result of putting together 1,500 stores over most recent years through acquisitions, we have recognized that there are approximately 300 underperforming or duplicative stores,” chairman Steve Stagner said during a lenders presentation to Steinhoff stakeholders, the report said. “Over last year, we’ve already gotten out of about 90 locations.”

Currently, Mattress Firm has roughly 3,400 U.S. locations.

Click here to read more.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Amazon cancelled its plans to build a headquarters in New York City. What do you think?