Houston-based Mattress Firm will close up to 700 stores nationwide leading up to the holiday season “to strengthen its balance sheet and optimize its store footprint,” according to an announcement made by CEO Steve Stagner Friday.
Approximately 200 stores will close in the next few days as part of Chapter 11 restructuring.
“We intend to use the additional liquidity from these actions to improve our product offering, provide greater value to our customers, open new stores in new markets, and strategically expand in existing markets where we see the greatest opportunities to serve our customers,” Stagner said in a prepared statement.
It is not known which of those stores will be in New Jersey, though the statement specifies “certain markets where we have too many locations in close proximity to each other.” Of the 105 towns with Mattress Firms in New Jersey, seven have multiple locations, including Brick, Clifton, East Windsor, Freehold, Paramus, Springfield and Toms River.
Mattress Firm did not return further request for comment at press time.