Mattress Firm

Jorge Sanhueza-Lyon/KUT

After years of rampant expansion, Houston-based Mattress Firm filed for bankruptcy protection Friday in an effort to get out from under $3.2 billion in debt. The retailer will likely close 700 of its 3,355 stores, 200 of which will likely close in the next few days.

Jorge Sanhueza-Lyon / KUT

Mattress Firm has filed for Chapter 11 bankruptcy protection and will close up to 700 stores, the Houston-based chain announced Friday. About 200 stores are expected to close in the next few days, and decisions about additional store closings will be made soon after.