Innovative Mattress Solutions
On January 14, 2019, this Kentucky-based mattress company filed for Chapter 11 bankruptcy, Business Insider reports. Aside from Mattress Warehouse, Innovative Mattress Solutions is also the owner of Sleep Outfitters and Mattress King. On January 15, 2019, another retailer called Mattress Warehouse put out a press release to explain Innovative Mattress Solutions’ bankruptcy. It states that although it has the same name as one of its subsidiaries, Innovative Mattress Solutions’ bankruptcy is not in any way related to it. The release states, “This filing of Chapter 11 bankruptcy has no bearing on the Mattress Warehouse (sleephappens.com) organization or their relationships with their vendors.” USA Today reports in January 2019 that Innovative Mattress Solutions might shut down 142 stores.
Innovative Mattress Solutions
Z Gallerie
On March 11, 2019, the Los Angeles-based retailer Z Gallerie filed for Chapter 11 bankruptcy, according to Business Insider. SF Gate reports that this company that sells home furniture said it would close 17 of its stores and would look for a buyer to avoid liquidation. It states that the bankruptcy was caused by self-imposed problems (a common reason used in filing for bankruptcy). SF Gate continued to state that Z Gallerie wished it had invested more in e-commerce and hadn’t invested so much on opening expensive distribution centers. Its business problems mainly came from the fact that its performance goals weren’t meant when they invested so much on their expansion. Z Gallerie needs a swift proceeding, as their filing would indicate, to avoid becoming another retailer to have failed reorganization attempts and then be forced to liquidate.
Z Gallerie
