A longstanding sleep retailer in the US has initiated liquidation sales following approval from the U.S. Bankruptcy Court for the Northern District of New York. The retailer, which operated around 70 stores at its peak, filed for Chapter 11 protection on 4 September 2024.
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Judge Wendy A. Kinsella authorised "going-out-of-business" sales at six New York locations, allowing the retailer, Metro Mattress, to sell inventory free and clear of liens, claims, and encumbrances. Earlier closures of 34 stores in New England and New York did not stem mounting losses. The liquidation, expected to last five weeks, includes promotions on brands such as Beautyrest, Tempur-Pedic, and Sealy. Remaining merchandise may be consolidated among stores, with the full wind-down planned in the coming weeks.
Source: www.furnituretoday.com
