Mattress Firm plans to close 11 Maryland stores as part of a bankruptcy reorganization that has the retailer shuttering 700 U.S. stores.
The chain will close stores on Fleet Street and on Belair Road in Baltimore as well as locations in Aberdeen, Bel Air, Catonsville, Clarksburg, Frederick, Halethorpe, Rockville, Towson and Woodlawn, according to court filings.
The retailer filed for Chapter 11 protection Friday in U.S. Bankruptcy Court in Delaware, which it said will allow it to close inefficient stores and get access to financing.
“Leading up to the holiday shopping season, we will exit up to 700 stores in certain markets where we have too many locations in close proximity to each other,” Steve Stagner, Mattress Firm’s executive chairman, president and CEO, said in an announcement.
Stagner said the company plans to improve its product offerings, open new stores in new markets and expand in some existing markets.
After the round of store closings, the company said it still will be the largest specialty mattress retailer with “thousands” of stores. It said it will make deliveries as scheduled and honor warranties.
A group of about 200 stores will be closed in the next few days, with decisions about additional store closings expected in the next few weeks, the company said. Mattress Firm lists 20 Baltimore area stores on its website, including some of those slated for closure.