Sleep Number: Chapter 11 and sale of substantially all assets

Substantially all assets of Sleep Number Corporation: completed. The buyer below is shown as owner of those assets only because completion is evidenced.

Court or authority: United States Bankruptcy Court for the Southern District of New York (US-NY)
Proceeding: voluntary petitions for relief under chapter 11, jointly administered
Case number: 26-11399
Parties: Sleep Number Corporation (debtor); SNBR, Inc. (wholly owned subsidiary of Sleep Country Canada Inc.) (buyer)
Brands: Sleep Number

Timeline

Only steps with evidence are shown. A missing step is stated as missing, not assumed.

Date	Step	What the source says
12 June 2026	Proceeding filed	Sleep Number Corporation and its subsidiaries filed voluntary chapter 11 petitions in the Southern District of New York.
18 July 2026	Asset sale proposed	The company signed an amended and restated asset purchase agreement with SNBR, Inc., a wholly owned subsidiary of Sleep Country Canada Inc., to sell substantially all of its assets.
21 July 2026	Sale authorised by the court	The bankruptcy court entered the Sale Order approving the agreement and authorising the debtors to close the sale.
31 July 2026	Sale completed	The parties closed the asset sale. · Brandtree deal record

Assets: Substantially all assets of Sleep Number Corporation

Stage today: completed
Seller: Sleep Number Corporation and its subsidiaries
Buyer: SNBR, Inc., a wholly owned subsidiary of Sleep Country Canada Inc.
Included: substantially all of the assets of the Company
Excluded: The Form 8-K does not list excluded assets, and the schedules to the purchase agreement were omitted from the filing.
Disclosed value: $529.5 million. Cash proceeds of the whole asset sale. About $267.4 million repaid debtor-in-possession loans and $10.0 million was placed in escrow for post-closing adjustments. Not allocated to individual brands.

No price is allocated to individual brands unless a source does so.

Who held the assets at each step

On	Substantially all assets of Sleep Number Corporation
12 June 2026	No completed owner: no evidenced step yet
18 July 2026	No completed owner: proposed only
21 July 2026	No completed owner: authorised but not completed
31 July 2026	SNBR, Inc., a wholly owned subsidiary of Sleep Country Canada Inc. (completed)

Company status and brand status are separate

Entity	Legal status	Trading status	Brand availability
Sleep Number Corporation (company)	Chapter 11 debtor; a plan of liquidation is expected	not evidenced	not evidenced

A dissolved company does not mean a brand is gone, and a closed court case does not mean a closed business. A relaunch does not prove that the new operator is a legal successor or took on any liability.

The deal in Brandtree's records

Bankruptcy sale closed Closed 31 July 2026

Sleep Country Canada acquires Sleep Number

Sleep Number Corporation and its subsidiaries filed for Chapter 11 in the Southern District of New York on 12 June 2026. On 18 July it signed an amended asset purchase agreement with SNBR, Inc., a wholly owned subsidiary of Sleep Country Canada Inc., for substantially all of its assets; the court approved the sale on 21 July and it closed on 31 July 2026. Cash proceeds were $529.5 million, of which about $267.4 million repaid the debtor-in-possession loans. Sleep Number said it expected nothing to be left for its stockholders and that its shares would be cancelled under a plan of liquidation.

Value: $529.5m
Buyer: Sleep Country Canada
Seller: Sleep Number Corporation
Regulatory: None recorded

This case adds context to the existing deal record; it is not a second acquisition.

Evidence

Sleep Number Corporation Form 8-K - completion of the sale of substantially all assets to SNBR, Inc., 3 August 2026 · Item 2.01, first paragraphunder the caption In re: Sleep Number Corporation, et al. , Case No. 26-11399
Sleep Number Corporation Form 8-K - completion of the sale of substantially all assets to SNBR, Inc., 3 August 2026 · Item 2.01, first paragraphon June 12, 2026, Sleep Number Corporation ("Sleep Number" or the "Company") and its subsidiaries (together with Sleep Number, the "Debtors") filed voluntary petitions for relief
Sleep Number Corporation Form 8-K - completion of the sale of substantially all assets to SNBR, Inc., 3 August 2026 · Item 2.01, second paragraphon July 18, 2026, the Company entered into an Amended and Restated Asset Purchase Agreement
Sleep Number Corporation Form 8-K - completion of the sale of substantially all assets to SNBR, Inc., 3 August 2026 · Item 2.01, second paragraphOn July 21, 2026, the Bankruptcy Court entered an order (the "Sale Order") approving the Company's entry into the Amended and Restated Purchase Agreement
Sleep Number Corporation Form 8-K - completion of the sale of substantially all assets to SNBR, Inc., 3 August 2026 · Item 2.01, second paragraphOn July 31, 2026, the parties consummated and closed the Asset Sale.
Sleep Number Corporation Form 8-K - completion of the sale of substantially all assets to SNBR, Inc., 3 August 2026 · Item 2.01, third paragraphCash proceeds from the Asset Sale were $529.5 million

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