Is Mattress Firm Guilty of Money Laundering? Doesn’t Look Like It.

There’s only one reason for multiple Mattress Firms to be on the same street: money laundering. That’s according to a longstanding conspiracy that has gone viral after a Reddit user made a fresh accusation on the social media site. However, an analysis of the mattress retailer’s financials and its industry’s dynamics suggests readers shouldn’t spring to that conclusion.

“Mattress Firm is some sort of giant money laundering scheme,” wrote Reddit user crazy_Potatos in a since-deleted comment. “I remember seeing 4 mattress firms all on each corner of an intersection once, and there is no way there is such a demand for mattresses.”

Indeed, there are five branches of Mattress Firm within a mile of each other in Schererville, Indiana (those in red squares in the Google Maps screenshot below). Nonetheless, CEO Ken Murphy has dismissed the rumours. “The idea that the proximity of Mattress Firm store locations is related to money laundering or any illegal activity is absolutely false,” he told Business Insider.

Mattress Firm has acquired rivals such as Sleepy’s and Sleep Train in recent years, expanding in size to 3,600…