Legacy Furniture and Mattress Retailer FURN Files for Chapter 7, Closing All 127 Stores

FURN, a vertically integrated furniture and mattress retailer founded in 1959, has officially shut down all 127 of its brick-and-mortar locations nationwide. The company filed for Chapter 7 bankruptcy protection on March 7, 2026, citing declining foot traffic, rising operational costs, and persistent debt from a leveraged buyout in 2019. Its last day of operations occurred on March 8, with all stores closing permanently. The closure marks the end of a 67-year legacy in the consumer discretionary sector, with FURN once operating as a regional chain across 16 states. The company reported $428 million in annual revenue in fiscal 2024, down 34% from its peak in 2021. Net losses totaled $89 million in the same period, resulting in a negative equity position of $142 million by year-end. The bankruptcy trustee has initiated a nationwide liquidation of all inventory, fixtures, and real estate holdings. The company’s stock, traded under the ticker FURN, had already been delisted from major exchanges in January 2025 due to non-compliance with listing requirements. Its associated mattress brand, MATT, which contributed roughly 40% of total sales, is now fully defunct. The liquidation is expected to yield a projected 15–25% recovery rate for secured creditors, with unsecured claims likely to receive less than 10 cents on the dollar. The collapse affects not only employees and suppliers but also regional real estate markets, as FURN owned or leased 92 of its store locations. The company’s exit from the retail landscape underscores ongoing challenges in physical home goods retail, including shifting consumer preferences toward e-commerce and increasing competition from direct-to-consumer mattress brands.