47 -year -old furniture network in section 11

When the company enters the bankruptcy of Chapter 11, it often shares a plan. This plan shows what the company expects.

In some cases, this offer contains information about possible funding or a company that wants to buy a business bankruptcy. At other times, the plan may share information and turn a debt with ownership with creditors or other financial method to create a breathing room.

Occasionally, bankruptcy plan is more than a bullet point form or a list of things the company wants to happen.

This was the case with the Metro Mattress Corp., the regional mattress seller, who provided the bankruptcy of Chapter 11 in 2024. September

These efforts collapsed and the company on 3 October. Submitted a proposal to the US bankruptcy court to the New York Northern District.

In the court application, “Sleep retailer said he could no longer maintain surgery because he could not secure the buyer and finish the funds to cover the advertising and after the petition,” said Furniture today.

• Date of feed: 2024. September 4th

• Court: US Bankruptcy Court, New York Northern District

• Case number: 5: 24-BK-30773

• Property: Less than $ 9 million

• Commitments: Over $ 23 million

• Creditors: Approximately 100 to 199

• The largest creditor: Tempur-Pedic, owes nearly $ 2 million

Source: Pacermonitor

Prior to the bankruptcy proceedings of Chapter 11, the Metro mattress shared a simple description of its business on its website.

In the Metro mattress, we are committed to giving our customers the highest quality mattresses, which are high since 1978. The Metro mattress is a leading retail retail in New York, providing customers a wide selection of brand mattresses to meet the needs of our customers. We are delighted to present our dedication and unmatched customer service in Connecticut, New Hampshire, Massachusetts and Rhode Island.

The company is proud to be the first customer business to help people find the right mattress for their needs.

You can expect our staff to be knowledgeable and professional, with great mattress hours and regulated basic training. When you come to us, you can rely on a consistent, informed and easy shopping experience with dedicated professionals who will give you a time to make the right decision about the mattress that will be perfect for you. We all mean the same thing: to be the best mattress company for your needs.

Related: a 52 -year discount chain closes places in several states

This chapter was removed from the company’s website, but can be found in archived versions of the site.

The 47 -year history of the subway mattress will soon end. Technically, the company needs permission from the court to close the remaining stores, but its website has already begun to sell business.

The Metro mattress plans to combine all the rest of its stocks to five or six stores to sell the business.

“The metro mattress said he had contacted 21 potential buyers, including financial and strategic investors in an attempt to sell the company, but none made offers. One financial buyer expressed his constant interest recently on September 30, but no final agreement is incredible,” said Furniture Today.

The plan, assuming that the court will approve it, will be intended to sell a five -week off, after which the company will release all the remaining places.

The Metro mattress site has already promoted a business for sale up to 70% off.

• The number of stores is filed: 69 places in five states.

• Closing strategy: Initially closed the inferior stores in New England to focus on the New York market.

• Current state: All the remaining stores are now seeking to close.

• Cause of closing: The buyer and the lack of funds for advertising and petition costs after the petition could not be secured.

• Liquidation Plan: Consolidate stocks to five -weekly five -week stores. The sale of the liquidation followed by the sale of the remaining goods and equipment.

• Court Confirmation: The final liquidation and closure are expected.

Related: Technology retailer plans to close more than 1,000 stores

This story was initially reported by Thestretet in 2025. October 8, where she first appeared in retail supermarkets, Chain Store News and Analysis Unit. Add TheStret as the desired source by clicking here.