6 sleepy\'s stores in n.j. on the mattress firm bankruptcy closure list

SixNew Jersey is one of the mattress company\'s 200 stores, which will be closed within days after the Texas company filed for bankruptcy last week.
All 700 stores will be closed.
According to court documents, all shops that are about to be closed in New Jersey are Sleepy\'s.
The mattress company acquired Sleepy\'s in 2016 and the mattress giant four years ago, which also owns the Sleep Train brand.
Mattress company said in court papers that the company\'s previous management team had made several mistakes as it had purchased more than 1,300 stores from its competitors over the past two years.
It has more than 3,200 stores in 49 states.
\"Although these acquisitions are allowed (Mattress Firm)to achieve . . .
\"In markets where they had little or no presence before, they also led to sales of nearby stores to\" eat people, \"the company said \".
\"As a result, many mattress company stores compete directly with other mattress company stores, resulting in disappointing sales.
\"The company was founded in 1986 with sales of more than $3 billion.
But the company said in court documents for the fiscal year 2018 that it expects a loss of about $0. 15 billion.
Mattress company acquired by South Africa in 2016
Headquartered in Steinhoff International Holdings, it costs $3. 8 billion.
The Associated Press contributed to the report.
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