Ken Murphy CEO: Mattress Firm
Do you ever wonder why there are always only one to two cars in the parking lot at all times? Mattress firm is a mattress store that has 2,380 stores with 6,500 employees (Bagnall 1). Is Mattress Firm laundering money or not? Let’s take a look at the conspiracy theory with Mattress Firm and money laundering.
Works-cited
Bagnall, Caitlin. “How Many Employees Does Mattress Firm Have?” MattressFirm Newsroom, https://newsroom.mattressfirm.com/ufaqs/many-employees-mattress-firm/. Accessed 20 Apr. 2022.
Ken Murphy was a goal driven, smart individual.
Murphy was pretty intelligent and strategic. He would oversee a company with over 6,500 employees, “https://newsroom.mattressfirm.com/ufaqs/many-employees-mattress-firm/" for the company for thirteen years he progressed his way from a retail store associate to the president in 2015. With having a mindset to want to drive a company to success is a goal driven individual. Researchers say that he stepped down from CEO, Chief Executive Officer, because of the accusations and assumptions from a Reddit comment that someone wrote. Quoted in article by Bryan Logan, https://www.businessinsider.com/mattress-firm-ceo-ken-murphy-resigns-2018-1
The conspiracy about Mattress Firm is that they laundering money because of the locations that are strangely close to each other radius wise. A tik-toker in 2019, made a video about “how the stores are extremely close to each other and there’s nearly never any cars in the parking lots”, in a video that was deleted. After doing some research, there are reasons as to why the retail stores are close to each other.
Quoted, “Holding Corp. (the “Company”) (NASDAQ: MFRM), the nation’s largest specialty mattress retailer, today announced that it has entered into an agreement to acquire all of the outstanding equity interests in HMK Mattress Holdings LLC, the holding company of Sleepy’s and related entities”, in website https://www.businesswire.com/news/home/20151130006196/en/Mattress-Firm-to-Acquire-Sleepy’s. Mattress Firm has 3500 stores in the United States social media users claim that the brand is overstored given that it's stocks products that are typically bought every 7 to 10 years. Mattress Firm has grown a lot throughout the time there for when they bought out all of the other brands such as Sleepy’s , it brought people wondering why there are so many stores close to each other, they even posted a reddit comment then Ken Murphy himself took it off and made a statement in business insider.
As a result, the company has managed to maintain their business even after a global pandemic and despite the accusations that the Reddit comment stated. The conspiracy behind the Mattress Firm money laundering scheme has valid points, however there are proven facts as to why they're at Mattress Firm locations extremely close to each other.