Mattress Firm Files For Bankruptcy

Alpha8472
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Mattress Firm Files For Bankruptcy

Post by Alpha8472 »

Mattress Firm has filed for bankruptcy reorganization. The chain took over various regional chains such as Sleepy's and Sleep Train.

The chain over expanded. In my area you can drive down the street and see 3 stores within blocks of each other. It is absurd that they keep these stores open. They need to close down these duplicate stores and get things together.
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Re: Mattress Firm Files For Bankruptcy

Post by storewanderer »

They took over some chain in Nevada that operated under the name Mattress Discounters and I think it was something else very briefly before turning into Mattress Firm. Under the various names, the store has been the same. Prices seem pretty high and they clearly were trying to run on low volume/high margin.
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Re: Mattress Firm Files For Bankruptcy

Post by SamSpade »

I can speak to the fact they changed their advertising mix and dropped radio endorsement live reads that the previous operators (Sleep Country USA > SleepTrain) used in this area.

I agree, the stores are within blocks of each other here in many cases, it's almost like Payless or RadioShack in that respect.

They are currently back in our market with pre-recorded national ads on TV and radio, so apparently the chapter 11 hasn't stalled that (yet).
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Re: Mattress Firm Files For Bankruptcy

Post by Super S »

SamSpade wrote: October 5th, 2018, 11:34 pm I can speak to the fact they changed their advertising mix and dropped radio endorsement live reads that the previous operators (Sleep Country USA > SleepTrain) used in this area.

I agree, the stores are within blocks of each other here in many cases, it's almost like Payless or RadioShack in that respect.

They are currently back in our market with pre-recorded national ads on TV and radio, so apparently the chapter 11 hasn't stalled that (yet).
Portland is an interesting market for this category. There is a lot of competition. And a lot of advertising. My personal experience has been that the chains always had the highest prices. The smaller guys have better pricing in this category nearly every time, particularly the independents. Almost a 180 from most retail categories.
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Re: Mattress Firm Files For Bankruptcy

Post by jamcool »

I imagine the “bed in a box” online sellers hurt them as well
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Re: Mattress Firm Files For Bankruptcy

Post by rwsandiego »

In the Mission Valley section of San Diego there is a Mattress Firm in Park in the Valley SC, another one in a shopping center that is surrounded by Park in the Valley. They are less than 500 feet from one another. Then there's another store location at Fenton Marketplace about a mile away. Across from Park in the Valley is Mission Valley Center, home of the ginormous Macy's Home Store that also sells mattresses. Macy's mattress department is always packed. Mattress Firm not so much. When I was shopping for a mattress, Mattress Firm was really doing a hard sell. Macy's not at all. In fact, the Macy's saleslady suggested I bring my own pillow, wear loose comfortable clothing (I had stopped in straight from work) and offered to honor the expiring sale price when I came back.

Care to guess where I bought my mattress? And the mattress before? And the next mattress after I relocated and upgraded to a Cal King?`

The bankruptcy filing comes as no shock and surprise to me.
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Re: Mattress Firm Files For Bankruptcy

Post by Brian Lutz »

For a while now there's been a conspiracy theory floating around the Internet that Mattress Firm is basically a front for an elaborate international money laundering scheme, which would explain the large number of stores in close proximity to each other. I know there are several areas here near malls where multiple locations are literally within blocks of each other.

On the rare occasion I've looked at a mattress there, I found their products to be horrendously overpriced.
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Re: Mattress Firm Files For Bankruptcy

Post by Super S »

Brian Lutz wrote: October 8th, 2018, 10:02 am For a while now there's been a conspiracy theory floating around the Internet that Mattress Firm is basically a front for an elaborate international money laundering scheme, which would explain the large number of stores in close proximity to each other. I know there are several areas here near malls where multiple locations are literally within blocks of each other.

On the rare occasion I've looked at a mattress there, I found their products to be horrendously overpriced.
I have seen a few billboards around Portland that say "MATTRESS STORES ARE GREEDY" I wonder if those have anything to do with that theory....
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Re: Mattress Firm Files For Bankruptcy

Post by babs »

Super S wrote: October 8th, 2018, 11:36 am
Brian Lutz wrote: October 8th, 2018, 10:02 am For a while now there's been a conspiracy theory floating around the Internet that Mattress Firm is basically a front for an elaborate international money laundering scheme, which would explain the large number of stores in close proximity to each other. I know there are several areas here near malls where multiple locations are literally within blocks of each other.

On the rare occasion I've looked at a mattress there, I found their products to be horrendously overpriced.
I have seen a few billboards around Portland that say "MATTRESS STORES ARE GREEDY" I wonder if those have anything to do with that theory....
Tuft & Needle is behind those billboards.
They have a nice blog post about mattress stores here;
https://m.tuftandneedle.com/death-of-th ... 27a5b14b94
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Re: Mattress Firm Files For Bankruptcy

Post by rwsandiego »

babs wrote: October 8th, 2018, 1:47 pm
Super S wrote: October 8th, 2018, 11:36 am
Brian Lutz wrote: October 8th, 2018, 10:02 am For a while now there's been a conspiracy theory floating around the Internet that Mattress Firm is basically a front for an elaborate international money laundering scheme, which would explain the large number of stores in close proximity to each other. I know there are several areas here near malls where multiple locations are literally within blocks of each other.

On the rare occasion I've looked at a mattress there, I found their products to be horrendously overpriced.
I have seen a few billboards around Portland that say "MATTRESS STORES ARE GREEDY" I wonder if those have anything to do with that theory....
Tuft & Needle is behind those billboards.
They have a nice blog post about mattress stores here;
https://m.tuftandneedle.com/death-of-th ... 27a5b14b94
It is important to note that Tuft and Needle is now owned by Serta Simmons. That said, they started the advertising campaign prior to being acquired.
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