Reuters reports that Houston-based Mattress Firm, Inc. the largest U.S. mattress retailer with 3,000 stores is preparing to file for Chapter 11 bankruptcy protection by the end of this week. Additionally, Reuters cites that its South African parent company, Steinhoff International Holdings NV, is encountering debt challenges, as well.
It is expected that the filing would be a shedding of unprofitable stores to attempt to secure the company, much like Payless did in its Chapter 11 filing. A filing at the end of this week would likely mean that Mattress Firm does not pay its October rents on time, as it moves to reject a number of leases.
If you have a Mattress Firm lease, it is important to know your rights now. Stark & Stark’s Shopping Center & Retail Development Group can help.
Our bankruptcy attorneys regularly represent landlords throughout the country, including recently in the Eastern District of Missouri, District of New Jersey, Southern District of New York, District of Delaware, District of Minnesota and the Western and Eastern Districts of Pennsylvania regarding a variety of issues.
Our Group has been counsel to landlords and trade creditors in the Toys “R” Us, Payless, Eastern Outfitters (EMS Part 2), EMS, Golfsmith, RadioShack, General Wireless (RadioShack 2), Gander Mountain, A&P, Joyce Leslie, rue21, Central Grocers and Sports Authority chapter 11 bankruptcy cases.
For more information on how Stark & Stark can assist you, please contact Thomas Onder, Shareholder, at (609) 219-7458 or tonder@stark-stark.com or Joseph Lemkin at 6091-791-7022 or jlemkin@stark-stark.com.
