Today (10/5) Mattress Firm filed for bankruptcy (Chapter 11). You can see it two ways, either you will struggle finding a new place when you have to buy a new mattress OR get ready for a huge sale on grabbing a new mattress.

It is said that after reporting bankruptcy Mattress Firm will be closing around 700 stores in the country by the end of the year. 200 of the 700 will be closing down within the next few days. The company has said that a few reasons why their sales have tanked are because of online businesses and so many Mattress Firm stores being close in location to each other.

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Credit: Scott Olson

Mattress Firm, the countries largest mattress store, plans on paying all their suppliers and operating for as long as they can. Amazon and Walmart didn't help with the decision of going bankrupt. Both big companies recently started their own mattress business which didn't help Mattress Firm’s situation.

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