Mattress Firm files for bankruptcy

Mattress Firm files for bankruptcy

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The online marketplace is forcing America's largest bedding store to close some stores. 

Mattress Firm has filed for bankruptcy. It will remain in business, but is requesting chapter 11 protection to get out of about 700 unfavorable leases.

The company will shutter about 200 underperforming stores and evaluate the other 500 in the next few weeks.

There are more than 3,300 Mattress Firm stores in the United States. Two are in Lubbock.

The company indicates it will exit bankruptcy in about two months, hoping the equity will allow it to expand into more favorable markets.

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