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Six New Jersey stores are part of the 200 stores under the Mattress Firm umbrella that will close in the next few days after the Texas company's failure in Chapter 11 last week. In total, 700 stores will be closed.
All future stores that close in New Jersey are Sleepy stores, according to court filings.
Mattress Firm, who bought Sleepy's in 2016 and Mattress Giant four years ago, also owns the Sleep Train brand.
- Sleepy's on Route 130 North in East Windsor
- Sleepy's on Route 46 in Parsippany
- Sleepy on Ferry Street in Newark
- Sleepy on South Pike Whitehorse in Hammonton
- Sleepy on Brunswick Pike in Lawrence
- Sleepy's on Highway 46 in Saddle Brook
In court documents, Mattress Firm said that the company's previous management team had made several miscalculations by changing the brand name of more than 1,300 stores purchased from competitors in the last two years. It has more than 3,200 stores in 49 states.
"Although these acquisitions have enabled Mattress Firm to be present in markets where they were previously little or not present, they have also led to a cannibalization of sales between stores close to each other. others, "said the company. "As a result, many Mattress Firm stores are in direct competition with other Mattress Firm stores, resulting in disappointing sales."
The company, established in 1986, realizes a turnover of more than 3 billion dollars. But in court documents, the company said that during the 2018 fiscal year, it should lose about $ 150 million.
In 2016, South Africa-based retailer Steinhoff International Holdings bought Mattress Firm for $ 3.8 billion.
Associated Press contributed to this report. Jeff Goldman can be contacted at [email protected]. Follow him on Twitter @JeffSGoldman. Find NJ.com on Facebook.
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