Mattress Warehouse parent company files for bankruptcy
VIENNA — Despite parent company Innovative Mattress Solutions filing for Chapter 11 bankruptcy protection earlier this month, it’s business as usual at the Mattress Warehouse in Vienna and other company stores.
According to a release posted online at www.mattresswarehouse.com, IMS is voluntarily restructuring under Chapter 11 protections.
“The industry, competitive pressures and customer expectations have changed, and we are changing to position ourselves for the future,” the release says.
Tempur Sealy International Inc., a longtime supplier for IMS, is providing Debtor-In-Possession financing “to facilitate IMS’s continued operation and reorganization,” the release says.
IMS CEO Kim Knopf said that, as part of the restructuring, the company will conduct a review “of optimizing our retail footprint to focus on strengthening our performance and right-sizing our operating structure.
“West Virginia is an important market for us,” Knopf said in an emailed statement. “Our stores are open for business as usual, and we are focused on taking care of our valued customers. We look forward to emerging from this process as an innovative, customer-focused company positioned for profitable operation.”
The bankruptcy process is expected to be completed in the first half of the year.
Started in South Charleston, W.Va., in 1983, IMS operates stores in multiple states under the Mattress Warehouse, Sleep Outfitters and Mattress King brands.