Lights Out: Sleep Number Files for Chapter 11 Bankruptcy in New York

Short summary

Sleep Number filed Chapter 11 bankruptcy citing tariffs and inflation, carrying $672M debt. Canadian bedding company Sleep Country Canada acquired it for $415M, with auction July 13 open to higher bids. Creates immediate concerns for landlords regarding rent, lease assumptions, and asset recovery.

• •Sleep Number bankruptcy: $672M debt, $415M acquisition offer from Sleep Country Canada
• •Auction July 13 with openness to higher bids
• •Direct impact on shopping center landlords for rent recovery and lease negotiations

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