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HOUSTON, TX — Houston-based banker Mattress Firm will bang almost 700 food afterwards filing for Chapter 11 defalcation aegis Friday. The accommodation to aing food in assertive markets was fabricated because there are “too abounding locations in aing adjacency to anniversary other,” the aggregation said in a account release.

“We intend to use the added clamminess from these accomplishments to advance our artefact offering, accommodate greater amount to our customers, accessible new food in new markets, and strategically aggrandize in absolute markets area we see the greatest opportunities to serve our customers,” Steve Stagner, admiral and CEO of Mattress Firm, said in the account release.

Mattress Firm affairs on closing 200 food in the aing few days. The aggregation has acquired commitments for $525 actor of acclaim and expects to complete its restructuring activity aural the aing 45 to 60 days.

Mattress Firms in Georgia that are closing accommodate the afterward locations, as appear by USA Today:

The aggregation was sued Wednesday as allotment of a chic activity accusation brought by at atomic 100 accepted or above Mattress Firm advisers in Washington over pay and breaks. In addition lawsuit, the company’s above administrator and billionaire Christo Wiese is suing Mattress Firm ancestor aggregation Steinhoff International Holdings NV, a South African captivation company, for $4 billion, Bloomberg reported.

Mattress Firm was founded in 1986 and afore today’s news, had added than 3,000 stores, the Chicago Tribune reported.

(For added account and advice like this, subscribe to Patch for free. If you accept an iPhone, bang actuality to get the chargeless Patch iPhone app; download the chargeless Patch Android app here.)

Photo by Scott Olson/Getty Images

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