Mattress Firm Files for Bankruptcy, Plans to Close 700 Stores

Daniel Lowenthal is a bankruptcy lawyer for Patterson Belknap Webb & Tyler in New York. He said, “The past few years have been tough for Mattress Firm. It had too many stores, faced competitive industry pressures and also had a corporate parent that was rocked by an accounting scandal. But now its goal is to get in and out of bankruptcy fast and regroup with new financing.”