Sleep Number Corp consummated the asset sale of substantially all its assets to SNBR, Inc., a subsidiary of Sleep Country Canada Inc., on July 31, 2026. The transaction generated $529.5 million in cash proceeds, with approximately $267.4 million distributed to repay debtor-in-possession term loans and roll-up loans, and $10.0 million deposited into an escrow account for post-closing adjustments. Sleep Number filed for Chapter 11 bankruptcy on June 12, 2026, and the Bankruptcy Court approved the sale via a Sale Order entered on July 21, 2026. The company stated that no proceeds will be available for distribution to stockholders, and its outstanding common stock will be cancelled upon plan effectiveness. Sleep Number Corp operates in the consumer durables industry, specifically manufacturing and selling smart beds and sleep technology products.
