Sleepy's has offered $20 million to buy Rockaway Bedding, the NY based sleep chain that recently filed for Chapter 11 bankruptcy protection.
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In unrelated news, the New York City Department of Consumer Affairs reported that Sleepy's has agreed to pay $200,000 to settle outstanding charges that the company engaged in deceptive sales tactics.
The Department noted that, "Sleepy’s receives the most complaints of any furniture store in the City.... Sleepy’s was cited for deceiving customers through its “28-day comfort exchange policy,” selling used mattresses as new, delivering damaged goods, exchanging previously damaged goods for other damaged goods, failing to honor delivery dates or purchased warranties, as well as failing to let consumers cancel an order, or issue a refund after agreeing to do so. Sleepy’s falsely claims customers can make an exchange as part of its “28-day Comfort Exchange Policy” but requires customers to notify the company of their intent to return only within a 14 day window. Sleepy’s operates 65 stores in New York City, as well as an 800 number (1-800-SLEEPYS). The DCA received a total of more than 115 complaints against Sleepy’s in the past two years. Many were referred from the New York State Attorney General’s office and the Better Business Bureau."