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Sleep Number files bankruptcy, plans $415M sale
USA Today • • business
Key Points:
- Sleep Number filed for Chapter 11 bankruptcy in New York on June 12, citing $672 million in debt and challenges from inflation, tariffs, and supply chain disruptions.
- The company plans to be acquired by Sleep Country Canada, aiming to create a leading North American mattress and bedding company with expanded U.S. and Canadian market presence.
- Despite the bankruptcy filing, customers can continue shopping, receiving deliveries, and using warranties and services as usual during the restructuring process.
- Sleep Number reported a $50 million net loss in Q1 2026 and had attempted financial stabilization through debt refinancing and store closures before seeking bankruptcy protection.
- The company’s NFL advertising partnership with Kansas City Chiefs player Travis Kelce may be affected, though details on stock holdings and sponsorship during bankruptcy remain unclear.
