A BELOVED furniture chain has become the latest to file for bankruptcy protections, and is now holding huge sales.
The chain is closing all of its locations in a major US city, and you can get massive 80% savings right now before they go.
A beloved furniture chain has become the latest to file for bankruptcy protections, and is now holding huge sales[/caption]
Factory Mattress, known for selling several big name brands, was forced to file for Chapter 11 bankruptcy on June 7.
The chain sells mattresses from a number of big brands, like Nextar, Lovett and Smartlife.
As a result of its bankruptcy filing, Factory Mattress will be closing all of its stores in Austin, Texas.
Sales are currently being held in the four locations to clear the store stock before closure.
OVERCOOKED STEAK
Fans of a beloved steakhouse have been blindsided with the reveal that it will be closing nine of its locations.
Smokey Bones has announced that a location in Roanoke, Virginia, will be closing on July 6 as part of the wave.
Customers were alerted to this by a brief sign on the restaurant window.
It read: “To our valued guests our last day open will be July 6.
Many Smokey Bones locations will be converted into Twin Peaks ones, as they are both owned by the same parent company, Fat Brands.
“Thank you for 20 years! We have loved serving you.”
Regulars were left devastated over the closure news.
One person said on social media: “They just closed the one in Fayetteville, NC and converting it to a Twin Peaks.”
And another wrote: “My guess is it will convert to Twin Peaks!”
Others expressed their sadness: “Was a great place to eat!”
US braces for ‘45,000 store closures’
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
While someone else noted: “Sorry to hear that it is closing. Loved their BBQ ribs!”
MASS CLOSURE
At the end of the year, Smokey Bones will only have 45 locations of its own left standing, and more are expected to be converted in the coming years.
A spokesperson told the Daily Mail: “We still plan to convert about half of Smokey Bones’ locations to Twin Peaks over the next several years.
“We will then keep 20 or so locations as Smokey Bones with nine locations closing due to factors such as the lease expiring or the trade area.
“As we have shared previously, we are committed to growing Smokey Bones and see great potential for the brand as the only BBQ concept in our portfolio.
“Our first priority is completing the conversions and then we will execute on our growth strategy.”
Twin Peaks recently closed its last location in the state of California.
It had been located in Sacramento for nearly a decade,l but closed down just as abruptly as the Smokey Bones did in Virginia.
The announcement post on social media said: “To our fans, we thank you for nearly 10 years of joining us for the “food, fun, cold beer & sports”.
“It’s with a heavy heart that we must share that Twin Peaks Sacramento is now permanently closed.
“Thank you and be well”
Factory Mattress, known for selling several big name brands, was forced to file for Chapter 11 bankruptcy on June 7[/caption]
