Mattress Firm files for bankruptcy

HOUSTON (AP) – Mattress Firm, Inc., the nation’s largest mattress retailer, is filing for bankruptcy protection, and plans to close up to 700 stores around the country. The Houston-based company filed for Chapter 11 bankruptcy protection Friday in federal court in Delaware. According to court documents, Mattress Firm has more than $1 billion in liabilities and has more than 50,000 creditors. It owes its largest creditor, mattress maker Simmons Manufacturing Company, nearly $65 million.