Mattress Firm Mulls Bankruptcy Filing: Reports

(RTTNews) - Mattress Firm, the largest mattress retailer in the US, is reportedly planning to file for bankruptcy and also might close some of its non-profitable locations.

According to reports, Mattress Firm is looking to shut down some of its 3,000 stores that are not generating any profits.

Mattress Firm's owner, Steinhoff International Holdings, is also reported to be working on a deal to restructure debt for the chain. Steinhoff had bought Mattress Firm for $3.8 billion in 2016.

Mattress firm is the latest retailer in the country that is on the verge of bankruptcy as retailers continue to struggle to keep up competition with e-commerce marketers as customers now prefer to buy products from the comfort of their home or office, with several websites even providing mattresses for free trials as well.

Mattress Firm operates more than 3,600 locations in 48 states.