Sleep Number Corp. Announces Court Approval for Sale to Sleep Country Canada

July 20, 2026  by Karen Parrish in Business Strategy, Industry   

Sleep Number’s day-to-day operations are continuing as normal, including serving customers with its newest products, servicing warranties and delivering mattresses in homes.

Linda Findley, President and Chief Executive Officer of Sleep Number, said, “We started this process with the goals of addressing our financial constraints and positioning our business for a stronger future. Combining with Sleep Country Canada enables us to achieve these goals, and today’s Court approval paves the way for us to complete our transaction. Our future together is bright. With Sleep Country Canada, we will build on the strengths that make Sleep Number special: our brand, products, stores and people. We see tremendous opportunities ahead to build a leading North American mattress and bedding company that helps customers improve their sleep and wellbeing.”

Findley continued, “As we work to complete the last phases of the sale process, we remain committed to serving our customers and advancing our new product line. I want to thank our team members for the continued hard work and dedication they bring each day for our customers.”

Stewart Schaefer, President and Chief Executive Officer of Sleep Country Canada, said, “Sleep Country Canada’s acquisition of Sleep Number is a testament to our confidence in the significant growth trajectory ahead. We see an opportunity to build on our complementary strengths and drive growth across the U.S. while introducing Sleep Number's innovative sleep solutions to Canada and other markets. We look forward to completing this exciting transaction and partnering with their talented team to continue serving customers and investing in the brand's future.”

Additional Information Regarding the Court Supervised Process
Additional information regarding the court-supervised sale process is available at forward.sleepnumber.com. Court filings and other information related to the proceedings are available on a separate website administered by the Company’s claims agent, Kroll, at https://restructuring.ra.kroll.com/SleepNumber, by calling toll-free at (844) 408-3387 (or +1 (646) 825-3128 for calls originating outside of the U.S.), or by sending an email to SleepNumberInfo@ra.kroll.com.

Advisors
Sleep Number is advised by Davis Polk & Wardwell LLP as legal advisor, Guggenheim Securities, LLC as investment banker, AP Services, an affiliate of AlixPartners, as interim management and Joele Frank, Wilkinson Brimmer Katcher as strategic communications advisor.

Sleep Country Canada is advised by Goodwin Procter LLP and Davies Ward Phillips & Vineberg LLP as legal advisors and PwC and National Bank of Canada Capital Markets as financial advisors.