Thursday, November 1, 2018
NEWS: Decelerating Retail
National Stores began store closing sales at 184 of its remaining Fallas and Factory 2-U stores across 12 states and Puerto Rico, conducted by a joint venture consisting of Hilco Merchant Resources, Gordon Brothers and SB360 Capital Partners. The closings are the result of the Chapter 11 Bankruptcy filing by National Stores, Inc. and certain of its affiliates. National Stores currently does business as Fallas, Fallas Paredes, Fallas Discount Stores, Factory 2-U, Anna’s Linens by Fallas, and Falas...Mattress Firm has filed for Chapter 11 bankruptcy. The chain plans to remain in business, but has filed for bankruptcy protection to get out of about 800 unfavorable leases. It will quickly close nearly 300 underperforming stores and make decisions about whether to close or maintain the other 500 stores in the coming weeks. It currently has more than 3,300 US stores. Mattress Firm plans to exit bankruptcy in about two months, and hopes that the liquidity gained from the bankruptcy allows it to expand into more favorable markets and even open new stores in existing markets.The chain has struggled with overexpansion, including its purchase of Sleepy’s in 2016 and Mattress Giant in 2012...National Wholesale Liquidators Inc. has filed for Chapter 11 bankruptcy. The company has engaged two companies to help it sell the inventory and fixtures at its stores.