Mattress Firm to close area stores

Fort Lauderdale, Miami locations affected in initial round of closures

Three Mattress Firm stores, one in Fort Lauderdale and two in Miami, are among 200 locations closing right away, according to the company, which filed for bankruptcy reorganization on Oct 5.

The South Florida stores closing or have already closed are:

■ 3520 N. Federal Highway, Fort Lauderdale

■ 7703 W. Flagler St., Miami

■ 14200 SW Eighth St., Miami Of the initial stores closing nationwide, 10 are in Florida. Other stores being shuttered in the state are in Stuart, Lakeland, Orlando, Pensacola, Sanford, Tallahassee and Jacksonville, according to a list provided by Mattress Firm.

The mattress store has more than 50 locations in South Florida, according to its website.

Additional store closings will be announced over the next 45 to 60 days, when it expects to complete the restructuring process, a company spokeswoman G’Nai Blakemore said Friday.

Mattress Firm has said it eventually may close up to 700 stores nationwide. The company has thousands of stores across the country.

In announcing the bankruptcy on Oct. 5, Executive Chairman, President and CEO Steve Stagner said the process will allow Mattress Firm “to strengthen its balance sheet.”

“We have too many stores in close proximity to each other,” he said in a news release.

Founded in 1986, Mattress Firm has stores in 49 states. In 2016, Mattress Firm was acquired by Steinhoff International Holdings, a South African-based interna- tional retail holding company. Like other bricks-and-mortar retailers, it is facing greater online competition.

The Houston-based company filed for Chapter 11 reorganization, which allows it to keep the business open while restructuring. Mattress Firm listed more than $1 billion in both debt and assets, including brand names such as Sleepy’s and 1800mattress.com. Unsecured creditors include Simmons Manufacturing and Serta Mattress.