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@@ -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 was surprised to see that a Mattress Firm opened a store just a block away. Then another opened up only a few blocks away. 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 a Sleep Number. Even the CEO of Mattress Firm says that there are too many stores in Chicago.<br><br> Art Van Furniture Mattress Firm Stores of Chicago have suffered losses of millions of dollars<br><br><br>Art Van Furniture has been in a downwards spiral since its founder Art Van Elslander sold the company to a private equity company three years ago. It has been losing money for years and is now preparing to liquidate. The company is scheduled to declare bankruptcy by the end of next week. Its creditors have tightened up their credit and suppliers are stopping deliveries. A spokesperson for the company said that the brand's reputation was extremely affected by the difficult retail environment. The company plans to close its stores in 60 days.<br><br> <br>Art Van Furniture failed to draw customers to its Chicago-area stores. It had been advertising on television to lure customers. The company had plans to expand to other Midwest markets. When you loved this information and you want to receive details with regards to [https://drive.google.com/file/d/1VnktPbUkoqfQXhmBLygTKcF2P5ZdqHKI/view?usp=sharing mattress sale near me] assure visit the webpage. However, its strategy did not work and the stores started losing money. Thomas H. Lee Partners has since acquired the company, raising $26 billion in equity capital and investing in four different business sectors.<br><br> <br>The family-owned business filed for bankruptcy in May 2017 and has suffered losses of millions of dollars. It closed almost 200 stores and laid off thousands of employees. The company will close its doors in March 2020. This will leave nearly 4,000 people without work and forced to scramble to get furniture that was paid for. Art Van Furniture's bankruptcy trustee suing its founders and their families for fraudulent transfers amounting to $105 million. The sale-leaseback of the company's properties led to the company's downfall.<br><br> <br>The company was profitable for several years prior to the 2017 deal. From 2011 to 2016, the company raked in $17 million in net earnings each year. Its net assets accounted for 75% of the company's total square footage. The company was debt-free. When the company was acquired by Thomas H. Lee Partners the new owners agreed to invest as much as $216 million in equity. The amount was reduced to $70million through the addition of a $45million note to shareholders. Art Van Furniture was left with $2 million after the sale.<br><br> <br>The integration was a disaster due to Wolf Furniture sales fell 22 percent in the second quarter of the fiscal year and the business lost a significant number of employees. Additionally, the Wolf-Art Van integration was unsuccessful because the company did not move quickly enough to incorporate 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 been struggling in recent years The 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 are closing approximately one-fourth. The company plans to focus its efforts on areas that do not have enough stores.<br><br> <br>Mattress Firm completed a deal in October to acquire Sleep Train, which operates more than 310 stores across seven states. The deal will see the founder of Sleep Train, who was also the president, become the company's chief strategy officer and president. Steve Stagner, CEO of Mattress Firm, will retain his title as CEO, while Rob Kilgore will become co-chief operating officer of the firm.<br><br> <br>The mattress industry is currently in a growth phase. Despite the economic downturn in 2013 and 2014, consumers' confidence is increasing and mattress sales are up over the past few months. The marketing and advertising efforts of the bedding industry have intensified. In its third-quarter revenue report, Mattress Firm reported sales of $464 million, or 5.8 percent higher than the year prior.<br><br> <br>Mattress Firm plans to open additional locations in Chicago in the next few years. The company has also been purchasing existing stores in nearby blocks of Chicago. The company expects to open at least 25 new stores before the end of the year, which will be its largest growth spurt to date.<br><br> <br>Although Woods is wary of overcrowding the market with too many stores however, it is confident in the trend towards consolidation of stores. Woods believes that even the most vulnerable stores will eventually close. Amy Woods says that the increase in sales is due to an unfortunate coincidence. In just a few short years, the company has opened more than 50 stores in Chicago. All of them are in close proximity one another.<br><br> <br>In the second quarter of 2015, Mattress Firm opened 71 new stores and shut down 11 stores. The company has also expanded into South Carolina. The company also provides nationwide delivery of its products. The company's nationwide distribution network now covers 18 states.<br><br> It is also free to ship.<br><br><br>The Mattress Firm is one of the largest mattress retailers in the United States with around two hundred and fifty stores. In the Chicago area alone The company has 235 locations. The company is reviewing its real estate footprint but isn't yet deciding which stores will be shut down and which will remain. It is expected to close some of its stores when leases expire.<br><br> <br>Mattress Firm's delivery process is fast and simple. You can pick the delivery date that you would like to have your mattress delivered. It was easy to arrange the delivery. The delivery men were friendly. The mattress was delivered the next morning at 8am. Mattress Firm offers financing options for those who require it.<br><br> <br>Customers can try the mattress for a free trial period that lasts for up to 120 nights. Customers can return the mattress for full reimbursement if they are not satisfied with it. You should go through the return policy. You should also check the warranty period. In certain cases the company will offer a limited warranty. If you buy mattress from Mattress Firm, make sure to go over the warranty carefully. This way, you can be certain that the mattress isn't a scam.<br><br> <br>A showroom is a great option to search for mattresses. You can usually test several mattresses in these showrooms. Additionally, you'll be helping a local business. You'll also have the ability to select the best mattress for your bedroom and your budget. If you have the time and money, you can also save money by buying a mattress bundle.<br><br> <br>If you're located in the Chicago area and you need to buy a mattress, you can purchase a top one from Mattress Firm. Mattress Firm coupons can be used to save even more on buying a brand new mattress. The store also sells furniture items, such as ottomans and sofas.<br><br> It also provides the possibility of financing<br><br><br>The Mattress Firm is a popular Chicago mattress store that sells affordable beds and mattresses. The company has many locations in the city, and also offers financing options. Its Chicago locations offer a broad selection of branded products as well as a warm and welcoming atmosphere and highly trained sales professionals. The company also offers special financing options as well as free shipping on purchases of more than $499.<br><br> <br>The company has more than 2,500 stores across the nation which makes it the biggest chain of mattress stores that specialize in. The company has around one store per 10,000 people, and has more than 235 in the Chicago area alone. The company is currently evaluating its real estate footprint to determine which of its stores will be closing and which will remain open. Although it has not yet decided which stores will close or when leases are due to expire, the company will have to close some stores.<br><br> <br>One of the major issues that the company faces is the decline in sales. The market share of the company has been taken away from physical stores by its online rivals. In addition to that, Mattress Firm has too many locations making it difficult for it to compete in the market. In the past few years, the company has struggled to stay profitable.<br><br> <br>Mattress Firm has recently been purchased by South African retail giant Steinhoff. The company is hoping to expand its reach and reduce its debt, however its efforts to turnaround aren't complete. The company plans to increase financial accountability and promote more. Business Insider reached Mattress Firm for comment but they did not immediately respond.<br><br> <br>The company has a long tradition of offering the possibility of financing to customers who require it. However, its recent history has raised doubts about its motives. Steinhoff International, the world's second-largest furniture retailer, is the owner of the company. Although the investigation has not been connected to money laundering, it has led to a large criminal investigation into the company. However, the company's dealings in South Africa have also attracted the attention of some critics.<br><br>