Signage is displayed exterior a completely closed Mattress Tub & Past retail retailer in Hawthorne, California, on Might 1, 2023.
Patrick T. Fallon | AFP | Getty Photographs
Mattress Tub & Past is again — sort of.
The bankrupt home goods chain is being resurrected by the house owners and licensees of its mental property, which opened the primary new Mattress Tub & Past retailer in Nashville, Tennessee, on Friday with probably dozens of extra to return.
This time round, the shop has a brand new identify — Mattress Tub & Past Dwelling — and marks a “contemporary begin” for the beloved model, mentioned Amy Sullivan, the CEO of The Brand House Collective, the shop’s operator.
“We’re proud to reintroduce one among retail’s most iconic names with the launch of Mattress Tub & Past Dwelling, fantastically reimagined for the way households collect at dwelling at this time,” Sullivan mentioned in a information launch. “With Mattress Tub & Past Dwelling we’re delivering on our mission to supply nice manufacturers, for any price range, in each room. It is a highly effective addition to our portfolio and a significant step ahead in our transformation.”
In honor of the model’s legacy, the brand new retailer will settle for the model’s well-known 20% coupon, no matter when it expired.
“We encourage friends to usher in their legacy Mattress Tub & Past coupons which we’ll gladly honor,” the corporate mentioned in a information launch. “The coupon everyone knows and love is again and for many who want one, a contemporary model will likely be ready on the door.”
Mattress Tub and Past 2.0 has been a number of years within the making and concerned a rigmarole of company acquisitions and rebrandings. When the unique Mattress Tub and Past filed for chapter in April 2023 following a string of corporate missteps, it struggled to find a buyer and ended up liquidating and promoting off its enterprise in components. Overstock.com later bought the brand’s intellectual property, rebranded its enterprise to Past Inc. and launched an online-only version of Mattress Tub and Past.
What adopted from there was a dizzying array of company deal-making. Finally, Past took an possession stake in Kirkland’s Inc., a house decor chain with round 300 shops throughout the U.S., and gave it the unique license to develop and create Mattress Tub & Past Dwelling shops, in addition to Buy Buy Baby stores.
Kirkland’s later rebranded to The Model Home Collective and plans to transform a few of its present Kirkland’s Dwelling shops into extra Mattress Tub and Past outlets. Friday’s launch in Nashville is the primary of six deliberate for the market and, pending the outcomes, it plans to transform round 75 extra shops by 2026.
The corporate mentioned it selected Nashville for the launch due to its proximity to its company headquarters, which can enable it to “intently handle each element and set the usual for future rollouts.”
Whereas the relaunch is thrilling for followers of the legacy model, it comes at a tough time for the house decor market. In some ways, Mattress Tub & Past’s chapter was the fault of its administration group and execution missteps, however it additionally confronted macro challenges as properly, consultants mentioned on the time. Competitors from gamers like Amazon, Walmart, Dwelling Items and Wayfair has made it more durable for different manufacturers to seize buyer spend, and the general sector has been delicate for a number of years due to excessive rates of interest and the sluggish housing market.
Even the present leaders within the dwelling decor house have seen soft trends and it is unlikely that may change till rates of interest fall and the housing market picks again up, some analysts have mentioned.