Nation's largest mattress retailer とじ込み／提出するs for 破産
HOUSTON (AP) - Mattress 会社／堅い, Inc., the nation's largest mattress retailer, とじ込み／提出するd for 破産 保護 on Friday, 説 its 早い 拡大 of 蓄える／店s in 最近の years - with 場所s often very の近くに to each other - resulted in "cannibalization" of sales.
The Houston-based company とじ込み／提出するd for 一時期／支部 11 破産 保護 in 連邦の 法廷，裁判所 in Delaware, 説 it 計画（する）s to の近くに up to 700 蓄える／店s around the country as part of its 再組織 計画（する） to continue operating.
The company has more than 3,200 蓄える／店s and more than 9,800 従業員s in the U.S. and in 最近の years had 積極性 拡大するd its 小売 足跡.
In 法廷，裁判所 文書s, Mattress 会社／堅い said the company's previous 管理／経営 team had made several miscalculations as it rebranded more than 1,300 蓄える／店s it had bought from competitors in the last two years.
"While these 取得／買収s 許すd (Mattress 会社／堅い) to 達成する ... presence in markets where they 以前 had little to no presence, they also led to 'cannibalization' of sales amongst 蓄える／店s in の近くに proximity to each other," the company said. "As a result, many Mattress 会社／堅い 蓄える／店s are in direct 競争 with other Mattress 会社／堅い 蓄える／店s, resulting in disappointing sales."
によれば 法廷，裁判所 文書s, Mattress 会社／堅い has more than $1 billion in 義務／負債s and has more than 50,000 creditors. It 借りがあるs its largest creditor, Atlanta-based mattress 製造者 Simmons 製造業の Co., nearly $65 million.
In a 声明, CEO and 大統領，／社長 Steve Stagner says the 破産 とじ込み／提出するing will 許す the company to "強化する our balance sheet."
Stagner said the 再組織 計画（する） will let the company "供給する greater value to our 顧客s, open new 蓄える／店s in new markets and strategically 拡大する in 存在するing markets where we see the greatest 適切な時期s to serve our 顧客s."
The company, 設立するd in 1986, has sales of more than $3 billion. But in 法廷，裁判所 文書s, the company said in 会計年度 2018 , it is 事業／計画（する）d to lose about $150 million.
In 2016, Mattress 会社／堅い was acquired by South Africa-based retailer Steinhoff International Holdings for $3.8 billion.
Mattress 会社／堅い's parent company has been 取引，協定ing with its own problems as its 在庫／株 price has 徹底的に 宙返り／暴落するd after it 報告（する）／憶測d accounting 不正行為s that are 存在 調査／捜査するd.
"The past few years have been 堅い for Mattress 会社／堅い. It had too many 蓄える／店s, 直面するd 競争の激しい 産業 圧力s and also had a 法人組織の／企業の parent that was 激しく揺するd by an accounting スキャンダル," said Daniel Lowenthal a New York 弁護士／代理人／検事 with Patterson Belknap Webb & Tyler who 専攻するs in 破産 法律. "But now its goal is to get in and out of 破産 急速な／放蕩な and 再編成する with new 財政／金融ing."
Mattress 会社／堅い said it hopes to 完全にする its 再編成 within two months.
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Follow Juan A. Lozano on Twitter at www.twitter.com/juanlozano70
