Latest news with #MattressLand
Daily Mail
5 days ago
- Business
- Daily Mail
Major bedding retailer closes all its stores nationwide
Two US mattress chains just got a wake up call — one is shutting down for good, the other is fighting to stay alive. Mattress Land has gone out of business, becoming the latest casualty of the US retail apocalypse. More than 15,000 are predicted to shutter in 2025, double last year. The chain, which operated 15 stores across California, Nevada, Idaho, and Washington, shut its doors in June after nearly three decades. Its parent company filed for Chapter 7 bankruptcy in July, a process that liquidates assets to pay off creditors. Meanwhile, American Mattress, which once had nearly 100 stores in Illinois and Indiana, filed for bankruptcy protection in July. The 37-year-old company is now in the process of closing 52 locations. Distributors are also feeling the pressure. CVB, a mattress supplier, was ordered to file for Chapter 7 bankruptcy in July after international creditors claimed it had failed to pay roughly $3.5 million in debts. Even larger retailers are not immune. At Home, which sells mattresses among other home goods, has struggled with overdue bills and tariffs, forcing it to file for bankruptcy protection. The company plans to close at least 32 stores by September. CEO Brad Weston cited tariffs as a major factor behind the financial strain. The struggles come amid declining mattress sales nationwide. After peaking during the pandemic, the market has cooled, with the International Sleep Products Association reporting a 5.7 percent drop in sales in the first quarter of 2025. The wider retail industry is struggling too. Party City, and Big Lots have closed al their stores after going out of business in the past 18 months as shoppers shift online. Macy's is in the process of shuttering 150 underperforming stores, including 66 stores this year.
Daily Mail
6 days ago
- Business
- Daily Mail
Major bedding store closes ALL stores nationwide as latest victim of retail apocalypse
Two US mattress chains just got a wake up call — one is shutting down for good, the other is fighting to stay alive. Mattress Land has gone out of business, becoming the latest casualty of the US retail apocalypse. More than 15,000 are predicted to shutter in 2025, double last year. The chain, which operated 15 stores across California, Nevada, Idaho, and Washington, shut its doors in June after nearly three decades. Its parent company filed for Chapter 7 bankruptcy in July, a process that liquidates assets to pay off creditors. Meanwhile, American Mattress, which once had nearly 100 stores in Illinois and Indiana, filed for bankruptcy protection in July. The 37-year-old company is now in the process of closing 52 locations. Distributors are also feeling the pressure. CVB, a mattress supplier, was ordered to file for Chapter 7 bankruptcy in July after international creditors claimed it had failed to pay roughly $3.5 million in debts. Even larger retailers are not immune. At Home, which sells mattresses among other home goods, has struggled with overdue bills and tariffs, forcing it to file for bankruptcy protection. Mattress Land's parent company filed for Chapter 7 bankruptcy in July Mattress Land shared pictures and testimonials on social media regularly until June 11 The company plans to close at least 32 stores by September. CEO Brad Weston cited tariffs as a major factor behind the financial strain. The struggles come amid declining mattress sales nationwide. After peaking during the pandemic, the market has cooled, with the International Sleep Products Association reporting a 5.7 percent drop in sales in the first quarter of 2025. The wider retail industry is struggling too. Party City, and Big Lots have closed al their stores after going out of business in the past 18 months as shoppers shift online. Macy's is in the process of shuttering 150 underperforming stores, including 66 stores this year. Claire's — the Chicago-born, 1,500-store chain that helped generations of tweens pierce their ears and make friendship bracelets — has declared Chapter 11. There are fears for the future of its 15,000 stores.
Miami Herald
03-08-2025
- Business
- Miami Herald
Major mattress retail chain liquidates in Chapter 7 bankruptcy
The U.S. mattress and bedding market has struggled over the last year, as sales dropped in 2024 and in the first quarter of 2025, which has led to factory and store closures and bankruptcy filings. Sales for the first quarter of 2025 declined by 5.7%, totaling $2.4 billion, compared to $2.5 billion in the same period in 2024, according to the International Sleep Products Association's Bedding Market Quarterly, Furniture Today reported. Total units sold in the first quarter also fell by 11.2% year-over-year to 8.7 million units compared to 9.7 units in 2024. Related: Famous handgun maker files for Chapter 11 bankruptcy The association noted in the report that the sales decline in the quarter was impacted by "slowing economic growth, policy uncertainty, and stubborn inflation." The mattress and stationary foundation market in 2024 declined 7.7% in sales to $9.2 billion for the year, and dropped 8.8% in units sold to about 36.5 million units, compared to the previous year. First Quarter 2025 sales: $2.4 billion, 5.7% decline.2024 annual sales: $9.2 billion, 7.7% decline. The mattress and bedding industry's economic issues likely led a California-based retail chain to close its doors permanently. The parent company of mattress and bedding retail chain Mattress Land filed for Chapter 7 bankruptcy to liquidate and close all 15 of its stores in four Western states, including California, Nevada, Idaho, and Washington. The Fresno, Calif.-based mattress store chain's owner The Sleep Fit Corp. filed for Chapter 7 protection on July 17, after liquidating and shutting down all of its stores at the end of June, according to The Business Journal of Fresno. Related: Rapper Phora surprises fans with Chapter 11 bankruptcy filing Mattress Land, which was founded in 1996, operated its combination headquarters and retail store in Fresno, as well as stores in Clovis, Visalia, Bakersfield, Merced, Atascadero, and San Luis Obispo, Calif.; Carson City, Sparks, and Reno, Nev.; Spokane Valley and Spokane, Wash., and Coeur d'Alene, Meridien, and Nampa, Idaho. California: Fresno, Clovis, Visalia, Bakersfield, Merced, Atascadero, San Luis Carson City, Sparks, Spokane Valley, Coeur d'Alene, Meridien, and Nampa. The mattress retail chain's website and phone number were both disabled at last check on Aug. 3. Mattress Land's CEO, president, and owner is William J. Van Beurden, who is also chair of Kingsburg, Calif.-based Van Beurden Insurance Services Inc., The Business Journal reported. Mattress industry struggles also led AFM Mattress Company LLC, which operates 57 American Mattress stores, to file for Chapter 11 bankruptcy protection on July 6. More Bankruptcy: Major iconic food brand files for Chapter 11 bankruptcyPopular Dairy Queen rival franchisee files Chapter 11 bankruptcyPopular vision care chain files for Chapter 11 bankruptcy The Elk Grove Village, Ill., mattress store chain is likely restructuring debt and reorganizing its business, as its website shows it is still operating 35 stores in the Chicagoland area, five in Florida, eight in Indiana, 22 in Michigan, and five in Missouri. Mattress and bed distributor, CVB Inc., faced an involuntary Chapter 7 bankruptcy filing on July 23 in U.S. Bankruptcy Court for the District of Utah, made by six suppliers, citing about $3.5 million in unpaid debts. The involuntary Chapter 7 filing came months after the company faced a massive recall in September 2024 involving 137,000 of its Lucid brand platform beds that posed a serious fall and injury risk. Don't miss the move: Subscribe to TheStreet's free daily newsletter The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
