Mattress Firm Inc. is an American

mattress A mattress is a large, usually rectangular pad for supporting a lying person. It is designed to be used as a bed, or on a bed frame as part of a bed. Mattresses may consist of a quilted or similarly fastened case, usually of heavy cloth, conta ...

store chain founded on July 4, 1986. The headquarters of the company is located in Houston, Texas.

Business

Before its bankruptcy in 2018, the company operated over 3,600 locations in 48 U.S. states. Mattress Firm has been owned by Steinhoff Holdings since 2016. On October 5, 2018, Mattress Firm filed for

Chapter 11 bankruptcy Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...

. The company planned to break 700 lease contracts by closing 200 unprofitable stores as soon as possible and was considering closing the other 500 stores out of the more than 3,300 it operated at that time. In November 2018, Mattress Firm emerged from Chapter 11 bankruptcy. In 2019, Mattress Firm appointed John Eck as CEO. In March 2020, Mattress Firm was one of several retailers to announce they would not pay some or all of their rent in April.

Acquisitions

Mattress Pro

In 2007, Mattress Firm acquired the mattress retailer Mattress Pro, which operated locations in the Southern United States ( Texas & Nevada).

Sleep Train

The retail bedding manufacturer The Sleep Train Inc operated primarily in California. It was founded by Dale Carlsen in June 1985. The company is based in

Rocklin, California Rocklin is a city in Placer County, California, about from Sacramento, and about northeast of Roseville in the Sacramento metropolitan area. Besides Roseville, it shares borders with Granite Bay, Loomis and Lincoln. As of the 2010 census, Ro ...

. In June 2000, Sleep Train sold 24 of its stores (mainly in Seattle and Portland), or about 30 percent of its business, to

Fenway Partners Fenway Partners is an American private equity firm that makes leveraged buyout and growth capital investments in transportation, logistics, consumer products, and manufacturing companies in the middle market. In 2002 Fenway acquired the molding ...

, a New York private-investment firm which had acquired Sleep Country USA, a competing chain established in 1991, three months earlier. At the time, Sleep Train had 44 stores (of which 18 were in Washington) and Sleep Country USA 28. In 2002, Sleep Train Inc. announced plans to purchase 54 of Mattress Discounters' stores in California during that company's bankruptcy—which would more than double Sleep Train's size. In 2003, Fenway Partners sold Sleep Country USA to the Atlanta-based Simmons Company, and in August 2006, Sleep Train Inc. purchased the then-55-store mattress chain from Simmons. In September 2011, Sleep Train acquired Christian's Mattress Xpress, converting three stores into new Sleep Train stores in Visalia, Fresno and Fowler, California. The following month, October 2011, Sleep Train purchased Mattress Outlet, a 14-store company with 13 stores in eastern Washington and one in Idaho, and America's Mattress, a seven-store company in western Washington. In October 2012, Sleep Train acquired Sleep City, an 8-store chain in Eastern Washington and Idaho. In April 2014, Sleep Train acquired America's Mattress in Hawaii. The acquisition included nine local America's Mattress stores: five stores on Oahu, two stores on the Big Island in Kona and Hilo, and one each on the islands of Maui and Kauai. On September 4, 2014, Mattress Firm Inc. announced it would buy The Sleep Train Inc. for $425 million. In February and March 2017, the Sleep Train stores were renamed as Mattress Firm outlets.

Sleep Country USA

Sleep Country USA was a Pacific Northwest bedding retailer founded in 1991. It had more than 80 mattress stores in Oregon, Washington and Idaho. The company headquarters were in

Kent, Washington Kent is a city in King County, Washington, United States. It is part of the Seattle–Tacoma–Bellevue metropolitan area and had a population of 136,588 as of the 2020 census, making it the fourth-largest municipality in greater Seattle and t ...

. Sunny Kobe Cook and Robert Cook founded Sleep Country USA in 1991 as a specialty sleep store chain. It started with 8 stores and approximately 25 employees in Washington.Sleep Country Celebrates 20th Year Anniversary
Sleep Country website. Retrieved May 30, 2012 In March 2000, New York-based Fenway Partners Inc. acquired Sleep Country from Robert Cook and Sunny Kobe Cook. In 2003, Fenway Partners sold Sleep Country USA to the Atlanta-based Simmons Company. In August 2006, The Sleep Train, Inc. purchased the then-55-store Sleep Country USA Pacific Northwest chain from Simmons for $55m. The chain continued to operate as Sleep Country USA.

Sleep Country Canada Sleep Country Canada Holdings Inc. is a Canadian mattress retailer and with over 250 stores operating in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Prince Edward Island and Nova Scotia. In 2006, the comp ...

, an unaffiliated company, uses the same jingle. In July 2015, the Kent, Washington-based Sleep Country USA company announced that it would begin rebranding all of its stores with the Sleep Train name, the California-based company that is now owned by Mattress Firm. Work to change the signage at stores was expected to continue into the fall of 2015, at least.

Mattress Barn

Mattress Barn was a chain of mattress stores located only in Florida. On August 29, 2014, it was announced that Mattress Firm would acquire all of the remaining Mattress Barn locations. In September 2016, all of the remaining stores converted into Mattress Firm.

Sleepy's

In 2015, Mattress Firm announced its plans to buy out its competitor

Sleepy's Sleepy's was a retail mattress chain with over 1,000 stores, primarily situated in the northeastern United States. The company was founded in New York City in 1931. Sleepy's was acquired by Mattress Firm in December 2015 and all stores were reb ...

for $780 million. With this purchase, Mattress Firm would come to have over 3,500 stores. Mattress Firm continues to use the Sleepy's name for their own brand of mattresses.

Sleep America

Sleep America was an Arizona bedding retailer founded in 1997 by Debbie and Leonard Gaby. By the time of Mattress Firm's acquisition of the company, they had about 30 stores. They were based in Phoenix, Arizona. On January 6, 2015, Mattress Firm acquired Sleep America for $12.5 million. Over the next 4 months, all of the Sleep America stores closed and were converted into Mattress Firm stores. A few locations became clearance centers for Mattress Firm.

References

External links

* {{Official website, http://www.mattressfirm.com Companies based in Houston Companies formerly listed on the Nasdaq Mattress retailers of the United States American companies established in 1986 Retail companies established in 1986 American subsidiaries of foreign companies 2016 mergers and acquisitions Companies that filed for Chapter 11 bankruptcy in 2018