There are more factors than the growth of online retailing troubling traditional retailers. That’s why many have been in financial trouble. Here’s an article describing the retailers who have entered bankruptcy in 2018, with the latest being The Mattress Firm.
The pace is slower than last year, when more than 20 retailers including Toys R Us, Hhgregg, and Gymboree filed for bankruptcy protection. But it’s no less painful for the employees and landlords who find themselves stuck in the middle as the retail landscape continues to evolve.
On Friday, Mattress Firm became the latest company to head down this path, as the largest mattress retailer in the U.S. grapples with how to trim its footprint of more than 3,000 stores. It’s initially planning to close as many as 700 locations, with roughly 200 stores expected to go dark as soon as “the next few days.” The company, owned by Steinhoff International Holdings, said it expects to complete a prepackaged restructuring within 45 to 60 days.
The closures by Mattress Firm, Toys R Us and other bankrupt brands are only adding to the glut of retail real estate that sits vacant across the U.S.