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'Mattress Firm Stores in Chicago <br>Melissa Marik is a Chicago resident and recently moved into a new home. She was surprised to see that a Mattress Firm had opened a store a block away. Another store was opened just a few blocks. Marik can now walk one mile down Clybourn Avenue and count five Mattress Firms and two American Mattresses. She also counts 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 has lost millions of dollars<br><br><br>Art Van Furniture has been in a downward spiral since after Art Van Elslander, founder, sold the company to private equity three years ago. It has lost money for years and is now preparing to liquidate. The company is expected file for bankruptcy next week. The company's creditors have tightened their credit, and suppliers are halting deliveries. A spokesperson for the company stated that the company's brands were significantly affected by the challenging retail environment. The company plans to shut down its stores in 60 days.<br><br> <br>Art Van Furniture failed in its efforts to attract customers to its Chicago-area locations. To draw customers in, it had used advertisements on television. The company planned to expand into other Midwest markets. The strategy didn't work and the stores began losing money. The company has since been purchased by Thomas H. Lee Partners which has 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 nearly 200 stores and laid off thousands of employees. The company is scheduled to close its doors in March 2020. It will leave a lot of people without work and forced to scramble to pick up furniture that was paid for. In addition to the bankruptcy Art Van Furniture's bankruptcy trustee has been suing its founders and the family for fraudulent transfers of $105 million. The company's demise was caused by the sale-leaseback its properties.<br><br> <br>Prior to the 2017 acquisition, the company was profitable for several years. From 2011 to 2016, the company earned $17 million in net profits annually. Net assets comprised 75% of the company's total square footage. The company was debt-free. When the company was purchased by Thomas H. Lee Partners the new owners agreed to invest up to $216 million in equity. However, the amount was reduced to $70 million with the addition of a $45 million note to shareholders. That means that Art Van Furniture had $2 million left over after the sale.<br><br> <br>In the end, the integration did not work due to Wolf Furniture sales declined 22 percent in the second quarter of the fiscal year and the company also lost significant numbers of employees. Additionally, the Wolf-Art Van integration was unsuccessful because the company was not moving 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 faced challenges in recent years, Mattress Firm has continued to grow through acquisitions. The company has more than 3000 stores across the U.S., and it has been expanding its reach through acquisitions in Chicago. The company has also recently announced plans to close 700 of its stores, or approximately one-fourth of its stores. The company hopes to focus its efforts on areas where it isn't able to find enough stores.<br><br> <br>In October, Mattress Firm closed a deal to acquire the Sleep Train company, which has 310 stores spread 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 continue to hold this title, and Rob Kilgore will be the co-chief operating officer.<br><br> <br>The mattress industry is currently in a growth phase. Despite the economic downturn in 2013 and 2014, consumers' confidence is on the rise and sales of mattresses have increased in the last few months. The marketing and advertising efforts of the bedding industry have been intensified. In its third quarter report on revenue, Mattress Firm reported sales of $464 million, which is 5.8 percent more than the year before.<br><br> <br>Mattress Firm plans to open additional stores in Chicago in the next few years. The company is also buying existing stores, usually in blocks that are located near to the city. The company hopes to have at least 25 new stores opened by the end of this year this year, which will be its largest growth rate ever.<br><br> <br>Although Woods is cautious about flooding the market with too many locations however, it is confident in the trend of store consolidation. Woods believes that the weaker stores will eventually be shut down. Amy Woods says that the proliferation is due to a happy accident. In just a few years, the company has opened over 50 stores in Chicago. All of them are located within close proximity to one another.<br><br> <br>Mattress Firm opened 71 stores and closed 11 stores in the second quarter of 2015. The company also expanded to south Carolina. The company provides [http://www.websearch101.com/Nationwide nationwide delivery] of its products. The distribution network for its products has been expanded to include 18 states.<br><br> It also includes free delivery<br><br><br>The Mattress Firm is one of the largest mattress retailers in the country 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 close and which will be retained. It is expected to close some of its stores when leases expire.<br><br> <br>Mattress Firm's delivery process is quick and easy. You can choose the date on which you'd like your mattress delivered. It was simple to schedule delivery. The delivery personnel were friendly. The mattress was delivered the next morning at 8am. Mattress Firm offers financing options for those who want it.<br><br> <br>Customers can try the mattress for a free trial period for up to 120 nights. Customers are able to return the mattress for an entire refund if they are not satisfied with it. It is recommended to read the return policy. Additionally, check the warranty period. In some instances, the company offers a limited warranty. Mattress Firm offers a limited warranty. Make sure you read it before purchasing a mattress. You'll be able to confirm that the mattress is not fraudulent.<br><br> <br>A showroom is another great location to look for a mattress. You can typically test a variety of beds in these showrooms. Additionally, you'll be helping a local business. You'll also have the ability to select the best mattress for your room and your budget. Bundles of mattresses are an excellent way to save money , if you have the money and time.<br><br> <br>If you live in the Chicago area and need to purchase a mattress, you can find a great one from Mattress Firm. You can also use the Mattress Firm coupons to save even more money on a brand new mattress. You can also find sofas and ottomans in the store.<br><br> It also offers the possibility of financing<br><br><br>The Mattress Firm is one of the most well-known mattress stores in Chicago providing mattresses and beds at a reasonable price. The company has multiple locations in the city, and also offers financing options. Its Chicago locations feature a wide selection of branded products as well as a warm and welcoming atmosphere and highly-trained sales personnel. The company also offers special financing options and free shipping on purchases of more than $499.<br><br> <br>The company has more than 2,500 stores across the country which makes it the largest chain for specialty mattress stores. The company has a store for each 50 000 people and 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 stay open. It hasn't decided which stores will be shut down, but as leases end, it will be forced to close a few of its stores.<br><br> <br>One of the biggest problems facing the company is declining sales. Its online competitors have changed 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 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 turnaround efforts are far from over. The company is planning to improve financial accountability and promote more. Business Insider reached Mattress Firm for comment but they did not respond immediately.<br><br> <br>The company has a long-standing history of offering financing options to those who need it. Recent developments raise questions about its motives. It is one of the reasons that it is controlled by Steinhoff International, which is the second largest furniture retailer in the world. Should you have almost any concerns with regards to where as well as how to utilize [https://drive.google.com/file/d/1xnpoKeWbk7DC-RhyJzSixOFJAC5qDrrf/view?usp=drivesdk tempur pedic store chicago], you can email us with our own webpage. The company has faced an extensive criminal investigation though it's not related to money laundering. Some critics have also been attracted by the company's South African operations.<br><br>'