Beautyrest mattress-maker Simmons to file for Chapter 11

It's a tough time to be in the mattress business. The industry's woes began last year when people stopped buying homes, the economy fell into a recession and the stock market tanked. With thinner wallets and no new homes to furnish, consumers became decidedly wary about buying plush mattresses to plump up their rapidly depreciating McMansions.

Simmons, as a result, is the latest mattress company to run into the equivalent of a business nightmare. The maker of Beautyrest and ComforPedic mattresses said Friday it will file for Chapter 11 bankruptcy protection, a filing that spokesman Michael Henson said will likely come in the next 30 to 60 days.