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Mattress Firm announced its filing for Chapter 11 bankruptcy protection, including the closure of hundreds of stores nationwide.
The traditional brick-and-mortar store has struggled to keep up with sales and over-expansion among heavy competition of e-commerce startups like Casper.
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The company has about 3,500 stores across the country including nine in the Dayton area, five in Butler County and eight in the Cincinnati area. It plans to close up to 700 stores, including 200 in the next few days, as part of the financial restructuring, according to a company release.
One Ohio store near Cleveland is slated to close, according to an A & G Realty Partners list.
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"We intend to use the additional liquidity of these actions to improve our product, provide greater value to our customers, and strategically expand in existing markets." Steve Stagner, executive chairman, president and CEO.
This news will be updated as they become available.
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