Mattress Firm, the nation’s largest mattress retailer, filed for Chapter 11 bankruptcy Friday and announced plans to close 700 “under-performing” stores. The company said it will quickly close 200 under performing stores and make decisions about whether to close or maintain the other 500 stores in the coming weeks. It currently has more than 3,300 stores in the United States. Mattress Firm expects to complete restructuring within the next 45 to 60 days and said all suppliers and contractors will be paid in full. Click here, here and here for full story.