Mattress Firm closing 99 more stores, including 1 in Dayton area

Mattress Firm will close on of its Miamisburg stores as it restructures under filing for chapter 11 bankruptcy.
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Mattress Firm will close on of its Miamisburg stores as it restructures under filing for chapter 11 bankruptcy.

Mattress Firm will shut down a Miamisburg location as part of a series of closures for the company that has filed for Chapter 11 bankruptcy.

The store at 14 N. Springboro Pike will shut its doors as part of 99 closures overall, according to a Tuesday court filing. There are three Mattress Firm stores within several miles in Miamisburg. Northeast Ohio received the bulk of the impact in the state.

The company has about 3,500 stores across the country, including nine in the Dayton area, five in Butler County and eight in the Cincinnati area.

Overexpansion was one of the biggest downfalls Mattress Firm faced as sales decreased and competition from online startups grew, experts say.

»PHOTOS: Luxury Oakwood home renovated in 2003 on market

The 99 closures are part of an expected 700. An initial 200 locations were previously announced as the company said it was looking to “strengthen its balance sheet and optimize its store footprint.”

The only Ohio store impacted in the original 200 closings was one in Highland Heights. Other Ohio stores planned to close in the newest round include locations in Fairlawn, Rocky River, Canton and North Olmstead.

“We intend to use the additional liquidity from these actions to improve our product offering, provide greater value to our customers, open new stores in new markets, and strategically expand in existing markets where we see the greatest opportunities to serve our customers,” said Steve Stagner, executive chairman, president and CEO.

The company has said in court filings that it doesn’t plan to operate liquidation sales but will shift product to stores that will remain open or abandon showroom merchandise altogether.

»PHOTOS: Luxury Oakwood home renovated in 2003 on market

Online startups selling bed-in-a-box mattresses added major disruption in the mattress industry, especially for traditional brick-and-mortar mattress firm. Amazon also recently jumped into the online mattress game, now selling low-cost memory foam mattresses.

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