Mattress Firm To Close Nearly 30 Illinois Stores

HOUSTON, TX — Houston-based retailer Mattress Firm will shutter roughly 700 stores after filing for Chapter 11 bankruptcy protection Friday. The decision to close stores in certain markets was made because there are "too many locations in close proximity to each other," the company said in a news release.

"We intend to use the additional liquidity from these actions to improve our product offering, provide greater value to our customers, open new stores in new markets, and strategically expand in existing markets where we see the greatest opportunities to serve our customers," Steve Stagner, president and CEO of Mattress Firm, stated in the release.

Mattress Firm plans on closing 200 stores in the next few days. The company has obtained commitments for $525 million of credit and expects to complete its restructuring process within the next 45 to 60 days.

The company was sued Wednesday as part of a class action lawsuit brought by at least 100 current or former Mattress Firm employees in Washington over pay and breaks. In another lawsuit, the company's former chairman and billionaire Christo Wiese is suing Mattress Firm parent company Steinhoff International Holdings NV, a South African holding company, for $4 billion, Bloomberg reported.

Mattress Firm was founded in 1986 and before today's news, had more than 3,000 stores, the Chicago Tribune reported.

These are the Illinois Mattress Firm locations that will be closing:

Algonquin

786 Randall Road

Arlington Heights

349 E. Rand Road

Aurora

2365 N. Farnsworth Ave.

4300 E. New York St., Suite A

Bourbonnais

1569 N. State Route 50

Broadview

7550 Broadview Village Square, Suite 7600C

Calumet City

1330 S. Torrence Ave.

Chicago

4840 N. Pulaski Road

4805 W. Irving Park Road

2121 N. Clybourn Ave., A-4

2000 N. Clybourn Ave.

Chicago Ridge

9935-51 S. Ridgeland Ave.

Evanston

1710 Sherman Ave.

Geneva

1749 S. Randall Road

Hoffman Estates

9 East Golf Road

4600 Hoffman Blvd.

4650 Hoffman Blvd.

Marion

2703 W. Deyoung St., Suite B

Mount Prospect

2 E. Rand Road

1413 W. North Ave.

New Lenox

2320 E. Lincoln Hwy., No. 109

2405 Lincoln Hwy.

Oak Brook

1600 W. 16th St., Suite T23

Oswego

2326 Route 34

Plainfield

2317 S. Route 59

Schaumburg

100B E. Golf Road

Skokie

9240 Skokie Blvd.

South Elgin

310 Randall Road

Westchester

1137 S Mannheim Road

Patch editor Fernando Alfonso contributed to this report.

Photo by Scott Olson | Getty Images