Resnick's Mattress Factory gets new owner

Capital Region stores will be unaffected by the change; founder pioneered innovative ads

ALAN WECHSLER Business writer
Section: Business,  Page: B10

Date: Saturday, June 16, 2007

Resnick's Mattress Factory, the discount retailer whose owner is perhaps best known for appearing in his own commercials wearing pajamas, has changed hands.


The Newburgh-based business, which has six stores in the greater Capital Region, was purchased May 6 for an undisclosed sum. The new owner, RMFD Mattress Co., is also based in Newburgh. The firm will do business as New York Mattress Factory, but will continue to use the Resnick's name for now, said co-owner Jeff Bonham. "It's too big of a name to change it, that's for sure," he said.


Resnick's has 16 stores total in New York, Vermont and Pennsylvania. Bonham said no stores would be affected by the change.


Bonham, 45, who shares ownership of the company with fellow businessman Bill Paladini, said he has been in the mattress business for 16 years. He owns a separate mattress store in Princeton, N.J. and plans to open up 10 Resnick's establishments in the next year.


"The stores were in good locations, with a wonderful customer base and a long history of good service to their customers," he said of the purchase.


The company makes its own mattresses at a factory in Newburgh and also sells some name brands. The firm was started by Justin Resnick in 1981 and gained prominence in the Capital Region with the purchase of the Troy Mattress Factory a few years later.


In the late '90s, the company had 14 Capital Region stores and a 14,000-square-foot distribution center. At the time, the company had 29 stores total and sales of $12 million, according to a news report from 1997. Resnick said he hoped to expand to 100 stores in the next four years.


The expansion didn't go as planned, however. Resnick's next time in the local news was when he settled with the state attorney general's office in 2000 over what the state said was bait-and-switch tactics practiced at the store.


Resnick, who denied any wrongdoing, paid a $10,000 fine and agreed to change his advertising. The state office said Resnick's ads promised twin mattresses for under $30 with free frame and delivery, but customers usually found the mattresses were out of stock. Resnick blamed the problem on his sales staff, and said it was cheaper to settle than fight the charges.


Resnick, who still lives in Newburgh, couldn't be reached. His lawyer, Ronald Kossar of Middletown, said Resnick had decided to retire but declined to say how the business had been doing.





Alan Wechsler can be reached at 454-5469 or by e-mail at awechsler@timesunion.com.