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  • INDUSTRY NEWS

    • On August 09, 2018, it was reported, Steve Combs, co-owner of AAA Home Center here, died Friday, Aug. 3. He was 63. Combs began his career as a Maytag sales representative, then met his wife Sandra Combs in the early '80s before purchasing the Central Maytag appliance business in Wichita, Kansas. In the mid-1980s, the Combs moved on from running that business to purchase AAA Home Center, which Combs has been leading for the past 32 years. "Steve loved interacting with customers and making them feel like family," according to information sent to Furniture Today by TBGThe Buying Giant, an industry buying group where Combs has served as a director. "His life away from AAA Home Center consisted of teaching his grandchildren how to ride horses, attending their athletic events and taking care of his horses and cows. He enjoyed long rides on his tractor in the hay fields. Steve was always willing to lend a hand to anyone. He was a very hardworking man and has left a legacy behind to his family."
    • On August 09, 2018, Casper announced plans to open 200 stores across North America, the company said in an email to Retail Dive. Among them are 18 pop-ups the company will make permanent, while others will be in top malls, according to The Wall Street Journal, who first reported the news. Casper in February opened its first stand-alone store in New York, adding to a series of pop-up stores in Los Angeles, New York and London , as well as partnerships with Target and Nordstrom, replacing an earlier one with West Elm that has since flipped to Leesa. The company's expansion extends to Canada, beginning with two stores in Toronto and a new headquarters there this year.
    • On August 07, 2018, it was reported, National Stores announced it has filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware and has plans to restructure its business. The company, owner of Fallas, Fallas Paredes, Fallas Discount Stores, Factory 2-U, Anna's Linen's by Fallas, and Falas (spelled with single "l" in Puerto Rico), said in a press release that it "has ample liquidity to fund operations and has received a commitment for up to approximately $108 million in debtor-in-possession financing from its existing lenders." The company didn't immediately respond to a request for additional comment.
    • On August 07, 2018, it was reported, Mattress Firm is contemplating a bankruptcy filing, looking for a way to get out from under expensive store leases and shutter underperforming locations, Reuters reported, citing unnamed sources. Parent company Steinhoff declined Retail Dive's request for comment. Steinhoff, the South African conglomerate that acquired the mattress retailer two years ago, has been in talks with creditors over restructuring its debt and some of its operations, according to a June announcement. Mattress Firm late last year announced it would shutter about 200 stores as part of a restructuring effort.