The Mattress Firm store in Forest Park was spared from closure for now, after the chain announced Oct. 5 it was filing for bankruptcy and closing some 210 stores across the U.S.
Mattress Firm plans to eventually close another 500 stores nationwide in an effort to “strengthen our balance sheet and accelerate the optimization of our store portfolio,” Steve Stagner, executive chairman, president and CEO, said in a statement.
“Leading up to the holiday shopping season, we will exit up to 700 stores in certain markets where we have too many locations in close proximity to each other,” Stagner said in a statement. “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.”
Mattress Firm has been open in Forest Park for at least four years. A spokeswoman did not respond to an interview request about how many people work at the store. The chain was founded in 1986 in Houston, Texas. It operates approximately 3,230 stores in 49 states.