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'Mattress Firm Stores in Chicago <br>Melissa Marik lives in the Chicago area and recently moved into a new apartment. She was surprised to see that a Mattress Firm had opened a store just a few blocks away. And then another one opened up a few blocks away. Today, Marik can walk down one mile of Clybourn Avenue in her neighborhood, and count five Mattress Firms and two American Mattresses, and a 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 have been unable to recover millions of dollars<br><br><br>Art Van Furniture has been in a downward spiral since after Art Van Elslander, founder who sold the company to private equity three years ago. It has been losing money and has begun preparations for liquidation. The company is scheduled to declare bankruptcy next week. Its creditors have increased their credit limits, and suppliers are stopping deliveries. A spokesperson for the company claimed that the brand's reputation was severely affected by the tough retail environment. The company is set to close its stores within 60 days.<br><br> <br>Art Van Furniture failed in its efforts to draw customers to its stores in the Chicago area. It had advertised on TV to attract customers. The company had plans to expand its operations to other Midwest markets. However, the strategy didn't work and the stores started losing money. The company was later acquired by Thomas H. Lee Partners which raised $26 billion in equity capital and invests 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 shut its doors in March 2020. Nearly 4,000 employees will be left without work and forced to hurry to purchase furniture they purchased. In addition to the bankruptcy Art Van Furniture's bankruptcy trustee has filed a lawsuit against its founders and their family members for fraudulent transfers totalling $105 million. The sale-leaseback of the company's properties contributed to the company's downfall.<br><br> <br>Prior to the 2017 acquisition, the company was profitable for a number of years. From 2011 to 2016, the company raked in $17 million in net profits annually. Net assets comprised 75% of the business's total square footage. The company was completely free of debt. When the company was bought by Thomas H. Lee Partners the new owners 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. That meant that Art Van Furniture had $2 million left over after the sale.<br><br> <br>In the end, the integration failed due to Wolf Furniture sales declined 22 percent in the second quarter of fiscal year and the company lost significant numbers of employees. The Wolf-Art Van integration also was an failure due to the fact that the company failed to move quickly enough to integrate the administrative functions of Levin-Wolf into the Art Van system.<br><br> Mattress Firm has been growing through acquisitions<br><br><br>While many retailers have had a difficult time in recent years, Mattress Firm has continued to expand through acquisitions. The company operates more than three thousand stores in the U.S., and it is expanding rapidly through acquisitions in Chicago. The company has also recently announced plans to shut down 700 of its stores, or approximately one-fourth of its stores. The company is hoping 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 acquire Sleep Train, which operates 310 stores across seven states. The deal will have the founder and president of Sleep Train become the company's president and chief strategy officer. Steve Stagner, CEO of Mattress Firm, will retain his position as CEO, while Rob Kilgore will become co-chief operating officer of the company.<br><br> <br>The mattress industry is undergoing a growth phase. Despite the downturn in the economy in 2013 and 2014, consumer confidence is increasing and mattress sales are up over the past few months. The marketing and advertising efforts of the bedding industry have intensified. 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 stores in Chicago in the next few years. The company is also purchasing existing stores within nearby blocks of Chicago. The company is planning to have at least 25 new stores open by the end of this year which will be the most significant growth ever.<br><br> <br>Although the company is cautious about overburdening the market with too many locations, it is confident about the trend towards consolidation of stores. Woods believes that even the most vulnerable stores will eventually be shut down. Amy Woods says that the proliferation is the result of an unfortunate coincidence. The company has opened more than 50 stores in Chicago within a short time All of them are in close proximity to each other.<br><br> <br>In the second quarter of 2015, Mattress Firm opened 71 new stores, and closed 11 stores. The company also expanded into south Carolina. The company also provides nationwide delivery of its products. Its national distribution network has been expanded to include 18 states.<br><br> It includes free delivery<br><br><br>The Mattress Firm is one the largest mattress retailers in America with more than 200 fifty locations. In the Chicago area alone the company has 235 stores. The company is currently evaluating its real estate footprint but has not yet decided on which stores will close and which will remain. As leases expire it is expected that it will close some of its stores.<br><br> <br>Mattress Firm's delivery procedure is quick and easy. It allows you to set the time that you would like to have your new mattress delivered. It is easy to schedule a delivery date and the delivery personnel were courteous and polite. The mattress was delivered at 8 a.m. If you beloved this write-up and you would like to get much more information about [https://sites.google.com/view/mattress-stores-chicago-il/best-mattress-stores-in-chicago memory foam mattresses near me] kindly visit the webpage. the next morning. Mattress Firm also offers financing options for those who need it.<br><br> <br>Customers can try the mattress for a free trial period of up to 120 nights. Customers are able to return the mattress for an entire refund in the event that they are not happy with the mattress. But, you must examine the return policy thoroughly. In addition, you should examine the warranty period. In certain cases, the company offers a limited warranty. Mattress Firm offers a limited warranty. Make sure you review it prior to buying a mattress. You'll be able to confirm that the mattress isn't a fraud.<br><br> <br>Another great way to find the perfect mattress is to go to the showroom. The showrooms usually have a variety of mattresses to test. Additionally, you'll be helping local businesses. You'll also be able pick the right mattress for your bedroom and your budget. Bundles of mattresses are an excellent way to save money , if you have the money and the time.<br><br> <br>Mattress Firm is a great place to find mattresses if you live located in Chicago. You can also make use of Mattress Firm coupons to save even more money on a brand new mattress. You can also find ottomans and sofas at the store.<br><br> It offers the possibility of financing<br><br><br>The Mattress Firm is a popular Chicago mattress retailer that provides affordable beds and mattresses. The company has multiple locations across the city, and also offers financing options. The Chicago location offers a broad variety of brand-name products as well as a comfortable and welcoming environment and highly-trained sales personnel. In addition, the company offers special financing options as well as free delivery on purchases of more than $499.<br><br> <br>The company operates more than 2,500 stores across the country which makes it the biggest chain of specialty mattress stores. The company has a store for every of 50,000 people, and has more than 235 stores in the Chicago area. The company is currently reviewing its real estate footprint to determine which of its stores will close and which will remain open. It isn't yet decided which stores will close however, as leases expire it will be required to close some of its stores.<br><br> <br>One of the biggest problems facing the company is its declining sales. The market share of the company has been moved away from physical stores by its online competitors. 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 struggled to make a profit.<br><br> <br>South African retail giant Steinhoff recently bought Mattress Firm. The company plans to expand its reach and reduce its debt. However the company's efforts to turn around its business aren't over yet. The company plans to improve financial accountability, enhance advertising, and increase its presence on the internet. Mattress Firm did not immediately respond to Business Insider's request to comment on the acquisition.<br><br> <br>The company has a long tradition of offering the possibility of financing to customers who need it. Its recent history raises questions about its motives. It is one of the reasons that it is owned by Steinhoff International, which is the second-largest furniture retailer in the world. The company has been subject to an extensive criminal investigation however, it's not connected to money laundering. However, the company's activities in South Africa have also attracted some criticism.<br><br>'