@@ -1,1 +1,1 @@ - +Mattress Firm Stores in Chicago <br>Melissa Marik lives in the Chicago area and recently moved into a brand new apartment. She noticed that a Mattress Firm opened a store just a few blocks away. Then another opened within a few blocks. Today, Marik can walk down one mile stretch of Clybourn Avenue in her neighborhood, and find five Mattress Firms as well as two American Mattresses, and Sleep Number. The CEO of Mattress Firm says there are too many stores in Chicago.<br><br> Art Van Furniture Mattress Firm Stores of Chicago has suffered losses of millions of dollars<br><br><br>Art Van Furniture has been in a downwards spiral since founder Art Van Elslander sold the company to a private equity firm three years ago. It has been losing money for years and is now preparing to liquidate. The company is expected file for bankruptcy next week. The company's creditors have increased credit limits and suppliers have stopped deliveries. A spokesperson for the company stated that the brands of the company have been shattered by the tough retail environment. The company plans to shut down its stores in 60 days.<br><br> <br>Art Van Furniture failed to draw customers to its stores in Chicago. It had advertised on television to attract customers. The company planned to expand to other Midwest markets. However, the strategy was not successful and the stores started losing money. The company has since been acquired by Thomas H. Lee Partners which raised $26 billion in equity capital and invests in four industries.<br><br> <br>The family-owned business filed for bankruptcy in May 2017 and has lost millions of dollars. It shut down more than 200 stores and laid off thousands. In the end the company will shut its doors in March 2020. It will leave a lot of people without jobs and forced to scramble to get furniture that was purchased. In addition to the bankruptcy, Art Van Furniture's bankruptcy trustee has sued its founders and their family members for fraudulent transfers totalling $105 million. The collapse of the company was caused by the sale-leaseback its properties.<br><br> <br>The company had been profitable for several years prior to the 2017 deal. The company made $17 million in net income between the years of 2011 and 2016. Its net assets accounted for 75% of the company's total square footage. The company was completely free of debt. The new owners of the company, Thomas H. Lee Partners had pledged to investing up to $216 millions in equity when they purchased it. However, the amount was reduced to $70 million by the addition of a $45 million note to shareholders. This means that Art Van Furniture had $2 million left after the sale.<br><br> <br>In the final analysis, the integration failed due to Wolf Furniture sales declined 22 percent in the second quarter of the fiscal year, and the company also lost significant amounts of staff. Furthermore, the Wolf-Art van integration failed because the company didn't move fast enough to assimilate the administrative functions of Levin-Wolf chains to the Art Van system.<br><br> Mattress Firm has been expanding through acquisitions<br><br><br>While many retailers have struggled in recent years, Mattress Firm has continued to expand its reach through acquisitions. The company has more than 3000 stores across the U.S., and it has been actively expanding through acquisitions in Chicago. The company recently announced that 700 of its stores are closing which is around one-fourth. The company hopes to focus its efforts on areas in which it does not have enough stores.<br><br> <br>Mattress Firm completed a deal in October to purchase Sleep Train, which operates more than 310 stores across 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 remain in this title, and Rob Kilgore will be the co-chief operating officer.<br><br> <br>The mattress industry is in a growth phase. Despite the downturn in the economy in 2013 and 2014, consumers' confidence is rising and sales of mattresses have increased over the past few months. The industry of bedding has been aggressively expanding its advertising and marketing efforts. Mattress Firm reported third-quarter revenue of $464 million which is 5.8 percent higher than the previous year.<br><br> <br>Mattress Firm plans to open additional locations in Chicago in the coming years. The company is also purchasing existing stores within nearby blocks of Chicago. The company plans to open at least 25 new stores by the end of the year this year, which will be its most significant expansion ever.<br><br> <br>Although Woods is cautious about overburdening the market with too many stores however, it is certain about the trend towards consolidation of stores. Woods believes that the weakest locations would eventually close. Amy Woods believes that the growth is due to an unlucky accident. The company has opened more than 50 stores in Chicago within a short time, all of which are in close proximity to each other.<br><br> <br>Mattress Firm opened 71 stores and closed 11 stores in the second quarter 2015. The company has also expanded into South Carolina. The company offers nationwide delivery of its products. The company's distribution network currently covers 18 states.<br><br> It is also free to ship.<br><br><br>The Mattress Firm is one of the [https://sites.google.com/view/mattress-stores-chicago-il/best-place-to-buy-a-mattress-in-chicago largest mattress retailers] in the nation, with about two hundred and fifty stores. The company has 235 stores in Chicago alone. The company is currently reviewing its real estate footprint, but isn't yet deciding which stores will be closed and which will stay. When leases expire, it is expected to shut down some of its stores.<br><br> <br>Mattress Firm's delivery process is fast and simple. It allows you to schedule the time you wish to get your new mattress delivered. It was easy to schedule delivery. The delivery men were pleasant. The mattress was delivered the next morning at 8am. Mattress Firm also offers financing options for those who require it.<br><br> <br>Customers can try the mattress for a free trial period of up to 120 nights. If the mattress is not suitable for their needs, they can return it to get a full refund. You should read the return policy. You should also verify the warranty period. Certain companies offer an limited warranty. If you purchase a mattress from Mattress Firm, make sure to review the warranty. You'll be able verify that the mattress is not fraudulent.<br><br> <br>Another option to locate the perfect mattress is to go to a showroom. These showrooms typically have several beds that you can try. Additionally, you'll be helping a local business. You will also be able choose the right mattress for you and your budget. Bundles of mattresses are an excellent option to save money if you have the money and the time.<br><br> <br>If you're in the Chicago area and you need to buy a mattress, you can find a great one from Mattress Firm. Mattress Firm coupons can be used to save even more on a new mattress. The store also has furniture pieces, including sofas and ottomans.<br><br> It also offers the possibility of financing<br><br><br>The Mattress Firm is one of the most popular mattress stores in Chicago, offering affordable beds and mattresses. The firm also offers financing options and has multiple locations in the city. Its Chicago locations offer a broad assortment of brand-name products as well as a warm and welcoming atmosphere and highly skilled sales representatives. Additionally, the company offers special financing options and free delivery on orders of more than $499.<br><br> <br>The company operates more than 2,500 stores across the country which makes it the largest chain of specialty mattress stores. The company has a store for every 50 000 people and more than 235 stores in the Chicago area. The company is currently looking at its real estate footprint to determine which of its stores will be shut down and which ones will stay open. It hasn't decided which stores will close however, as leases expire, it will be forced to close some of its stores.<br><br> <br>One of the biggest problems facing the company is its declining sales. Its online [https://followerwonk.com competitors] have changed the market away from physical stores. Mattress Firm also has too many locations making it difficult to compete in the market. For the last few years the company has had a difficult time to stay profitable.<br><br> <br>South African retail giant Steinhoff recently purchased Mattress Firm. The company plans to expand its reach and reduce its debt, but its efforts to turn around the business are far from complete. The company is planning to improve its financial accountability, improve advertising, and increase its presence on the internet. Mattress Firm did not immediately respond to Business Insider's request for comments on the acquisition.<br><br> <br>The company has a long tradition of providing the possibility of financing to customers who need it. However its recent history has raised questions about its motives. Steinhoff International, the world's second-largest furniture retailer owns the company. While the investigation hasn't been linked to money laundering but it has led to a major criminal investigation into the company. Some critics have been drawn to the company's South African dealings.<br><br>