Mattress Firm has announced the closure of two stores in Tucson, in addition to one closure announced earlier, as it cuts some 700 stores under a bankruptcy reorganization plan filed last week.
An updated list of closures showed the company will shutter its store at 9484 E. 22nd St. and another at 3858 W. Orange Grove Road.
The new closures are in addition to the closure of a location at 5545 E. Broadway, near two other Mattress Firm stores, announced as part of an initial list of 200 closures last week.
Mattress Firm, the nation's biggest mattress retailer, is updating a list of its store closures on the website of its real-estate adviser, atΒ agrealtypartners.com.Β
As of Thursday, the closures list also included one store in Casa Grande and 10 in the metro Phoenix area.
Mattress Firm grew rapidly in recent years by acquiring competitors and had more than 3,000 stores in 49 states, including 19 in the Tucson area, at the time of the bankruptcy filing.
The Houston-based company, which has annual sales of about $3 billion in annual sales but expects to post a $150 million loss this fiscal year, says it has lined up about $775 million in new capital to carry it through Chapter 11 bankruptcy reorganization and fund post-bankruptcy operations.
