what\'s next for mattress firm after bankruptcy and putting 700 stores to sleep?

2020/02/12
Today, mattress company, the country\'s largest bedding retailer, filed for bankruptcy, which is very much expected and the only start, promising a lot of twists and turns on its way back to a reasonable business strategy.
For company executives, shareholders, employees, industry suppliers, and possibly more than a few shoppers, it certainly means a lot of sleepless nights before everything is resolved.
The company said it would close 700 of its 3,500 stores in the next two months, of which almost immediately closed about 200.
It has arranged all the necessary temporary financing and is talking about getting better from all of it after everything is done, if not necessarily a bigger gain.
It is possible, but it is by no means certain.
While this is not a complete crash of the Toy \"R\" Us, the mattress company is dealing with a range of issues that need to be addressed before we talk about its successful resurrection.
Even after closing it still has 2,800 retail outlets, a result that seems to have never been before
End expansion roll
See it buy sleepy, sleeping trains and other competitors.
This creates an extensive overlapping physical footprint that exceeds its fair share of rotten real estate.
Don\'t be surprised if the 700 figure gets bigger somewhere along the line.
The parent company of mattress is Steinhoff International, a South African enterprise group that pays $3.
It was 8 billion in 2016.
A year later, the chairman and CEO of the company resigned after the \"accounting violation\" was discovered.
The survey is in progress, but for a subsidiary trying to deal with its own problems, it has never been a good thing to have a parent company with potential cooked food.
Just after Sleepy\'s acquisition last year, Mattress Company Tempur-one of its largest suppliers-
The end result is that retailers stop selling their products. With Tempur-
Four brands of pedicure (
And Simmons, SELTA, and sellie.
The last one is owned by tempur-Pedic)
This puts retailers at a disadvantage in the market.
The company says sales have fallen.
Last year was 2%. you have to think about the lack of tempur.
Pedic products are an important factor in this decline.
Finally, the ongoing cosmic destruction in the mattress universe is causing total destruction.
Online upstarts led by Casper are heading to 200-
Direct store footprintto-
The consumer model has invaded the mattress industry to some extent, which is unprecedented in today\'s consumer goods.
Although their market share is still relatively low, these newcomers
Including purple, Tuft & Needle, Leesa and another startup almost every week --
Start to have a real impact on the consumer purchase model and the supplier model.
This is a fairly overwhelming collection of conditions and problems.
The mattress company will have to deal with it.
It\'s good to close 20% of the stores and erase some bad debts from your balance sheet and get new financing.
The ultimate goal is healthy profit and consistent business, which has always been a sign of the mattress industry.
But mattress companies still need to figure out how to deal with Casper and others, how to deal with a rough parent company, and how to get the right product into their stores.
It is up to management who need to demonstrate that they are up to the task.
Sweet dreams have nothing but hidden inside.
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