News Summary
Metro Mattress Corp. has filed for court approval to liquidate all remaining stores due to severe financial difficulties. With assets of $8.9 million and liabilities of $23.7 million, the retailer struggled to find a buyer and faced significant losses. The liquidation plan involves consolidating inventory and hosting sales before closing. A hearing is set to discuss the request for liquidation, marking a potential end to Metro Mattress’ operations that have served the Northeast bedding market since 1976.
Liverpool, N.Y. — Metro Mattress Corp. is seeking court approval to liquidate all remaining stores after facing significant financial difficulties. The company, based in Liverpool, has cited a lack of “financial wherewithal” to sustain its operations as the reason for this drastic measure. On September 4, 2024, the retailer filed for protection under Chapter 11 of U.S. Bankruptcy Law.
At the time of the filing, Metro Mattress had approximately 70 stores serving customers throughout New York and New England. The company’s bankruptcy petition indicates assets of $8.9 million and liabilities amounting to $23.7 million. Despite efforts to find a buyer, Metro Mattress has struggled to secure a viable offer and is quickly depleting funds needed for operational expenses.
In a motion filed on October 3, 2025, Metro Mattress reported a loss of nearly $3.7 million this year, having generated $15.07 million in sales. Earlier in 2025, the company had already closed around 30 of its locations in New England and New York. Attempts to engage with 21 potential buyers did not yield any offers, although one financial buyer showed interest as recently as September 30, 2025, but no confirmed deal was reached.
The company’s lender, Community Bank, N.A., has tentatively agreed to provide funding for the liquidation process. Under the proposed liquidation plan, the retailer aims to consolidate inventory into five or six remaining stores, hosting a five-week sale, followed by bulk sales for remaining merchandise and equipment. Most locations slated to close are owned by affiliates of Metro Mattress’ owner, who have chosen not to collect rent during the liquidation period.
Metro Mattress is requesting court approval to sell its inventory and assets “free and clear” of liens and encumbrances. Additionally, the company is seeking a waiver of specific state and local liquidation-sale laws to enable a smoother shutdown process. A hearing regarding this liquidation request has been set for October 7, 2025. If the court grants approval, this will officially signal the end of Metro Mattress operations, which have been a staple in the Northeast bedding market since 1976.
Key Financial Figures
Metro Mattress filed for bankruptcy with reported assets of $8.9 million but debts totaling $23.7 million. This financial imbalance has raised critical concerns regarding the company’s future viability, leading to its current request for liquidation.
Closure Timeline and Implications
Should the court approve the liquidation request on October 7, 2025, the company plans to implement its strategy in phases, starting with inventory consolidation and promotions. If the liquidation proceeds as planned, it will effectively mark the end of a decades-long presence in the bedding retail industry in the Northeast.
Background of Metro Mattress
Founded in 1976, Metro Mattress has been a well-known name in the bedding sector within the Northeast region of the United States. However, recent economic challenges and the evolving retail landscape have led to a series of operational struggles culminating in the current bankruptcy filing and the request for liquidation. The company’s attempt to adapt and find a buyer has been unsuccessful, resulting in this latest phase of the business’s decline. The need for a formal liquidation process underscores the broader issues facing retailers in a competitive and rapidly changing market.
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HERE Resources
Additional Resources
- Syracuse.com: Metro Mattress Shutting Down
- Wikipedia: Bankruptcy Law
- CNY Central: Metro Mattress Closure
- Google Search: Metro Mattress Bankruptcy
- WXHC: Metro Mattress Closes Stores
- Google Scholar: Metro Mattress
- Furniture Today: Northeast Mattress Retailer Bankruptcy
- Encyclopedia Britannica: Chapter 11 Bankruptcy
- PR Newswire: Metro Mattress CEO Announcement
- Google News: Metro Mattress Closure
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