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Sleep Number files bankruptcy, plans $415M sale

Sleep Number filed for Chapter 11 bankruptcy on Friday. The company plans to sell its assets to Sleep Country Canada for $415 million in cash.

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What changed

New reports link the bankruptcy to supply chain disruptions from tariffs and a first-quarter net loss.

Live updates

  1. Sleep Number files for bankruptcy and agrees to $415 million sale

    Sleep Number filed for Chapter 11 bankruptcy on Friday. The company plans to sell its assets to Sleep Country Canada for $415 million in cash.

    What's confirmed:

    • Sleep Number filed for bankruptcy on Friday.
    • Sleep Country Canada offered $415 million to buy Sleep Number assets.

    Still unconfirmed:

    • Tariffs from Trump disrupted the company supply chain.
    • Sleep Number had a net loss of $50 million in the first quarter.
    confidence 100%

  2. Sleep Number Files for Chapter 11 Bankruptcy

    Sleep Number Corporation has filed for Chapter 11 bankruptcy protection. The company agreed to sell most of its assets to Sleep Country Canada Inc. for $415 million in cash.

    What's confirmed:

    • Sleep Number Corporation filed for Chapter 11 bankruptcy.
    • The company agreed to sell substantially all of its assets to Sleep Country Canada Inc. for $415 million in cash.

    Still unconfirmed:

    • Travis Kelce became a brand ambassador and investor for the company in January.
    • The company struggled with mounting debt and weakening consumer demand.
    confidence 100%

  3. Sleep Number files for Chapter 11 bankruptcy with $672 million in debt

    Sleep Number filed for bankruptcy in New York on June 12. The company plans a $415 million sale to Sleep Country Canada to create a leading North American mattress and bedding company. Management cited tariffs, inflation, and supply chain disruptions as causes for the filing.

    What's confirmed:

    • Sleep Number filed for bankruptcy in New York on June 12.
    • The company has approximately $672 million in debt.
    • Sleep Number attributes the filing to inflation, tariffs, and supply chain disruptions.
    • The company plans to sell its assets to Sleep Country Canada for $415 million.

    Still unconfirmed:

    • Stores will remain open for now.
    confidence 100%

  4. Sleep Number files for Chapter 11 with $415 million asset sale plan

    Sleep Number has filed for Chapter 11 bankruptcy protection in New York. The company intends to sell its assets to Sleep Country Canada for $415 million. Financial struggles were attributed to inflation, tariffs, and supply chain problems.

    What's confirmed:

    • Sleep Number filed for Chapter 11 bankruptcy protection in New York.
    • The company plans to sell its assets to Sleep Country Canada for $415 million.

    Still unconfirmed:

    • The company had a 59% gross margin and over $540 million in debt.
    • The company had near-zero cash and negative equity.
    confidence 90%

  5. Sleep Number Files for Chapter 11 Bankruptcy, Agrees to $415M Sale

    Sleep Number has filed for Chapter 11 bankruptcy protection in New York. The smart-bed maker plans to sell its assets to Sleep Country Canada for $415 million. The company cited inflation, tariffs, and supply chain issues as causes for its financial collapse.

    What's confirmed:

    • Sleep Number filed for Chapter 11 bankruptcy in New York on June 12.
    • The company plans to sell its assets to Sleep Country Canada for $415 million.
    • Sleep Number entered bankruptcy with approximately $672 million to $672.5 million in debt.
    • The company attributes its financial failure to inflation, tariffs, and supply chain disruptions.
    • Sleep Number operates 570 stores.

    Still unconfirmed:

    • The company is merging with a competitor.
    • Sleep Country Canada is owned by Fairfax.
    confidence 90%