October 26, 2020

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October 26, 2020

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Mattress Firm Preparing to File for Chapter 11 Bankruptcy This Week

Reuters reports that Houston-based Mattress Firm, Inc. the largest U.S. mattress retailer with 3,000 stores is preparing to file for Chapter 11 bankruptcy protection by the end of this week. Additionally, Reuters cites that its South African parent company, Steinhoff International Holdings NV, is encountering debt challenges, as well.

It is expected that the filing would be a shedding of unprofitable stores to attempt to secure the company, much like Payless did in its Chapter 11 filing. A filing at the end of this week would likely mean that Mattress Firm does not pay its October rents on time, as it moves to reject a number of leases.

COPYRIGHT © 2020, STARK & STARKNational Law Review, Volume VIII, Number 276
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About this Author

Thomas S. Onder, Stark Stark Law Firm, Retail Litigation Lawyer, Commercial Issues Attorney
Shareholder

Thomas S. Onder is a Shareholder and member of the Commercial, Retail and Industrial Real Estate, Litigation and Bankruptcy & Creditors’ Rights Groups of Stark & Stark. Mr. Onder is a member of the International Council of Shopping Centers (“ICSC”) and concentrates his practice in the area of commercial litigation, specializing in commercial landlord...

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