Business Wire·Jul 20, 2026, 1:16 PM ET

Sleep Number Receives Court Approval for Sale to Sleep Country Canada

Sleep Number Corporation received court approval for the sale of substantially all its assets & ongoing business operations to SNBR Inc., a wholly owned subsidiary of Sleep Country Canada Inc.
The transaction, which followed a competitive auction & improvements to a prior proposal, is expected to close by July 31, 2026.
Sleep Number's day-to-day operations, including new product sales, warranty servicing, & home deliveries, will continue as normal during the transition.
CEO Linda Findley stated the sale addresses financial constraints & positions the business for a stronger future by combining strengths with Sleep Country Canada.
Sleep Country Canada CEO Stewart Schaefer highlighted the acquisition as a testament to confidence in growth, aiming to drive U.S. expansion & introduce Sleep Number to Canada.
Sleep Number operates over 570 stores nationwide & online, backed by 40 years of innovation, 1,000+ patents, & billions of hours of sleep data.
Common shareholders are warned of a complete or significant loss of investment, as shares are significantly out of the money & were previously delisted from Nasdaq.
Legal & financial advisors for Sleep Number include Davis Polk & Wardwell LLP, Guggenheim Securities, LLC, & PwC, while Sleep Country Canada is advised by Goodwin Procter LLP & National Bank of Canada.
Additional information regarding the court-supervised process is available at forward.sleepnumber.com or via claims agent Kroll.