If you’re out of the loop, people are starting to dig for answers as to why there will be two or three sometimes four Mattress Firms across from one another at intersections. Someone raised the question of money laundering here on reddit and the thread got really popular and was as deleted by the Mattress Firm CEO himself. Just kidding, but it was deleted for some reason.
Source that the CEO is stepping down: www.businessinsider.com/mattress-firm-ceo-ken-murphy-resigns-2018-1
I’ve heard news articles speculate something about “money laundering” but I honestly think it is something more obvious going on. Or maybe not that obvious. /u/Chuckles77459 mentioned this in a thread a month ago:
Essentially they teamed up with the companies who own the property. Mattress rents the property for insanely high amount but short lease, property now looks very attractive to real estate buyers (because it’s making killer rental income way above what’s its worth) and the original real estate company sells and and shares profits with mattress place.
Almost like a real estate rental pump and dump.
I think that this guy more or less hit the nail on the head. But is this an actual thing? A chain of mattress stores can’t be the only one pulling this bullshit right? And someone is getting screwed over here right? Is it legal for them to this?? Or is this even accurate explanation of what’s going on?
Was just wondering what people’s thoughts were on the whole Mattress Firm fiasco