Mattress Firm is the latest retailer to go bankrupt [MSN Money]
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Source: MSN Money
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© John Ewing Nearly a dozen retailers — including department store chains and shoe brands — have filed for bankruptcy protection so far this year, shuttering many of their stores — if not all of them. The pace is slower than last year, when more than 20 retailers including Toys R Us, Hhgregg, and Gymboree filed for bankruptcy protection. But it's no less painful for the employees and landlords who find themselves stuck in the middle as the retail landscape continues to evolve. On Friday, Mattress Firm became the latest company to head down this path , as the largest mattress retailer in the U.S. grapples with how to trim its footprint of more than 3,000 stores. It's initially planning to close as many as 700 locations, with roughly 200 stores expected to go dark as soon as the next few days. The company, owned by Steinhoff International Holdings, said it expects to complete a prepackaged restructuring within 45 to 60 days.
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