Mattress retailer Sleep Number may pay up to $1.825 million in retention awards to 38 employees after a Southern District of New York bankruptcy judge rejected the U.S. trustee’s argument that some participants should be treated as insiders under the Bankruptcy Code.
Sleep Number Employees Deemed Non-Insiders, Clearing $1.8M Retention Plan
Mattress retailer Sleep Number may pay up to $1.825 million in retention awards to 38 employees after a Southern District of New York bankruptcy judge rejected the U.S. trustee’s argument that some participants should be treated as insiders under the Bankruptcy Code. The awards were intended to keep key employees from leaving while Sleep Number completed its bankruptcy sale.
By
Briana Warsing
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