Mattress Firm Stores in Chicago

Melissa Marik lives in the Chicago area and recently moved into a brand new apartment. She was surprised to see that a Mattress Firm opened a store just a few blocks away. Another one opened a few blocks further. Marik can now walk a mile down Clybourn Avenue and count five Mattress Firms and two American Mattresses. She also count Sleep Number. Even the CEO of Mattress Firm says that there are too many stores in Chicago.


Art Van Furniture Mattress Firm Stores of Chicago has lost millions of dollars



Art Van Furniture has been in a downward spiral ever after Art Van Elslander, founder who sold the company to private equity three years ago. The company has continued to lose money and has begun preparations for liquidation. The company is scheduled to file for bankruptcy next week. Its creditors have tightened up their credit and suppliers are stopping deliveries. A spokesperson for the company said that the company's brands were significantly affected by the challenging retail environment. The company plans to close its stores in 60 days.


Art Van Furniture failed to attract customers to its stores in Chicago. It had advertised on TV to attract customers. The company was planning to expand its operations to other Midwest markets. However, its strategy was not successful and the stores began losing money. Thomas H. Lee Partners has since purchased the company, raising $26 billion equity capital and investing in four different business sectors.


The family-owned company filed for bankruptcy May 2017 and has suffered losses of millions of dollars. It shut down more than 200 stores and laid off thousands. The company is scheduled to close its doors in March 2020. Nearly 4,000 employees will be left without work and forced to rush to get furniture they have paid for. In addition to the bankruptcy, Art Van Furniture's bankruptcy trustee been suing its founders and the family members for fraudulent transfers totalling $105 million. The company's demise was caused by the sale-leaseback its properties.


Prior to the 2017 deal, the company was profitable for many years. From 2011 to 2016, the company raked in $17 million in net earnings annually. The net assets of the company comprised 75 percent of the company's total square footage. The company was completely free of debt. When the company was bought by Thomas H. Lee Partners, the new owners had agreed to invest as much as $216 million in equity. The amount was reduced to $70million by the addition of a $45million note to shareholders. This meant that Art Van Furniture had $2 million left after the sale.


The integration was a disaster due to Wolf Furniture sales fell 22 percent in the second quarter of fiscal year and the company lost a significant number of employees. The Wolf-Art Van integration also was an failure due to the fact that the company failed to make the necessary changes to integrate the administrative functions of the Levin-Wolf chain into the Art Van system.


Mattress Firm has been growing through acquisitions



While many retailers have faced challenges in recent years, Mattress Firm has continued to expand through acquisitions. The company owns more than 3000 stores across the US and has also expanded in Chicago through acquisitions. The company recently announced that 700 of its stores will close approximately one-fourth. The company plans to focus its efforts in areas that do not have enough stores.


In October, Mattress Firm closed a deal to acquire the Sleep Train company, which has 310 stores in seven states. The deal will have the founder and president of Sleep Train become the company's chief strategy officer and president. Steve Stagner, Mattress Firm's CEO will keep that title, while Rob Kilgore will be the co-chief operating officer.


The mattress industry is in a growth phase. While the economy was not as strong in 2013 and early 2014 however, consumer confidence has been rising and sales of mattresses have increased over the past several months. The industry of bedding has expanded its marketing and advertising efforts. Mattress Firm reported third-quarter revenue of $464 million, which is 5.8 percent more than the year before.


Mattress Firm plans to open more locations in Chicago in the near future. The company is also buying existing stores in the nearby blocks of Chicago. The company is planning to have at minimum 25 new stores open before the end of the year this year, which will be its largest growth rate ever.


The company is wary of crowding the market with too many stores however, it is confident in the trend towards store consolidation. Woods believes that even the most vulnerable locations will eventually be shut down. Amy Woods says that the growth is due to a happy accident. The company has opened more than 50 stores in Chicago within the last few years and all of them are in close proximity to each other.


In the second quarter of 2015, Mattress Firm opened 71 new stores, and closed 11 stores. The company has also expanded into South Carolina. The company also offers nationwide delivery for its products. The distribution network for its products has expanded to eighteen states.


It also offers free delivery



The Mattress Firm is one of the largest mattress retailers in the nation with around two hundred and fifty stores. The company has 235 locations in Chicago alone. The company is reviewing its real estate footprint but it is not yet deciding which stores will be shut down and which will be retained. It is expected to shutter some of its stores when leases expire.


Mattress Firm's delivery process is fast and simple. It allows you to set the time you wish to receive your mattress. It was easy to arrange the delivery. The delivery guys were courteous. The mattress was delivered the next morning at 8am. Mattress Firm also offers financing options for those who need it.


Customers are given a trial period of up to 120 nights. If the mattress does not suit their needs, they can return it to get a full refund. However, you should check the return policy carefully. Additionally, examine the warranty period. In some instances the company will offer a limited warranty. If you buy mattress from Mattress Firm, make sure to read the warranty. You'll be able to confirm that the mattress isn't a scam.


Another way to find a mattress is to visit a showroom. You can typically test a variety of mattresses in these showrooms. You'll also be supporting local businesses. You'll also be able to choose the perfect mattress for your bedroom and your budget. Bundles of mattresses are a great option to save money if you have the money and time.


If you're in the Chicago area and you need to purchase a mattress you can find a great one from Mattress Firm. You can also avail Mattress Firm coupons to save even more money on a new mattress. The store also offers other furniture items, such as ottomans and sofas.


It also offers financing



The Mattress Firm is one of the most well-known mattress stores in Chicago providing affordable beds and mattresses. The company has multiple locations across the city and offers financing options. Its Chicago locations feature a wide range of products from branded brands and a welcoming environment and highly skilled sales representatives. The company also offers special financing options as well as free shipping on orders above $499.


The company has more than 2,500 stores across the country which makes it the largest chain of mattress stores that specialize in. The company has a store for every 50 000 people, and has more than 235 stores in the Chicago area in the entire region. The company is currently evaluating its real estate footprint to determine which stores will close and which will remain open. Although it has not yet determined which stores will be closing or what leases will end, the company will have to close some stores.


The biggest problem for the company is its declining sales. Its online competitors have shifted the market away from physical stores. Mattress Firm also has too many locations, making it difficult for them to compete on the market. In the past few years the company has been struggling to make a profit.


Mattress Firm has recently been purchased by South African retail giant Steinhoff. The company is looking to expand its reach and reduce its debt, but its efforts to turnaround are far from complete. The company plans to improve its financial accountability and will be more visible. Mattress Firm did not immediately respond to Business Insider's request for comments on the acquisition.


The company has a long tradition of providing finance options to customers who require it. However its recent history has raised doubts over its intentions. Steinhoff International, the world's second-largest furniture retailer, owns the company. The company has been the subject of an extensive criminal investigation, however, it's not connected to money laundering. However, the company's activities in South Africa have also attracted the attention of critics.