-September 2,2022-
Privately-held retailer Mattress Firm, who call themselves “America’s largest specialty mattress store”, will open a location in San Luis Obispo. The company has some 2400 locations across the US.
The retailer will open at the former Applebee’s Restaurant at the entrance to the SLO Promenade shopping center on Madonna.The eatery closed in both San Luis Obispo and Paso Robles in 2017.It’s taken some 6 years to find a new user for the 5200 sf building.But now construction work at the store is underway.The mattress retailer has a store in Santa Maria.
Realtor Justin Romain of the Lockehouse brokerage confirms the SLO lease estimating it could take 6 months to complete the remodel work allowing the new store to open.
In an expansion mode recently,Mattress Firm has had a tough go of it in the past. The mattress store chain was founded in 1986. The headquarters of the company is in Houston,Texas.
Before its bankruptcy in 2018, the company operated over 3,600 locations in 48 U.S. states. Mattress Firm has been owned by Steinhoff Holdings since 2016.
On October 5, 2018, Mattress Firm filed for Chapter 11 bankruptcy.The company planned to break 700 lease contracts by closing 200 unprofitable stores as soon as possible and was considering closing the other 500 stores out of the more than 3,300 it operated at that time.
In November 2018, Mattress Firm emerged from Chapter 11 bankruptcy.
Asked about how leasing was going at the SLO Promenade shopping center, Romain says his real estate office is working with possible tenants at most of the vacant spaces in the center and adds they just signed a deal with a Crumbl Cookies franchisee.The center is anchored by Sprouts,REI and Hobby Lobby, about ready to open.