Sleep Number Files for Bankruptcy, Inks Merger Deal

Sleep Number announces plans to merge with Canadian company

The Minneapolis-based company said Friday it filed for Chapter 11 bankruptcy protection to initiate the sale process to merge with Sleep Country Canada.

Sleep Number files for bankruptcy as Canadian retailer submits $415M bid

Sleep Country Canada submitted a stalking-horse bid to acquire the Minneapolis-based company. Sleep Number posted four years of declining sales after a pandemic peak.

Sleep Number bankruptcy: Minnesota company announces merger with Sleep Country Canada

Sleep Number, a Minnesota-based company, announced it is combining with Sleep Country Canada as it enters a court-supervised sale process.

Minneapolis-based Sleep Number files for bankruptcy, plans merger with Canadian retailer

Sleep Number announced in May that it recorded a $50 million net loss in the first quarter of the year, driven by decreased sales. On Friday, the company said that its efforts to change course — including its largest product redesign in a decade — have not been enough.

Sleep Number files for bankruptcy protection, merging with Canada company

The Minneapolis-based mattress company warned in March it was in danger of failing.

Sleep Number files for bankruptcy, inks merger deal

Sleep Country Canada is the stalking horse bidder for the struggling 40-year-old retailer, which is known for its adjustable mattresses.