Sleep Number Files for Bankruptcy and Agrees to Sell Assets for $415M
Sleep Number Corporation filed for Chapter 11 bankruptcy with approximately $672.5 million in debt, citing tariffs and inflation as key factors behind its financial struggles. The company agreed to sell substantially all of its assets to Sleep Country Canada Inc. for $415 million in cash plus assumption of certain liabilities.
Tickers: $SNBR
Topics: bankruptcy M&A supply chain tariffs