As Mattress Firm, the nation’s largest mattress retailer, prepares to shut down 700 stores nationwide, most of the Fresno and Clovis stores appear to have escaped closure, for now.
The Houston-based company filed for Chapter 11 bankruptcy protection on Friday in federal court in Delaware, according to the Associated Press. As part of its plan to strengthen its balance sheet, the company announced the massive store closure.
The company is saddled with more than $1 billion in liabilities.
Mattress Firm operates more than 3,000 stores in the U.S., including five in Fresno and Clovis. Court records show that only local store slated for closure is at 467 E. Shaw Avenue in Fresno. In addition, the store in Merced at 1414 R Street also will close.
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Company officials said Friday that an initial group of approximately 200 stores is expected to be closed in the next few days. Decisions about additional store closings will be made in the next few weeks.
For more information about the company’s restructuring, visit www.mattressfirm.com.