{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-071839","form_type":"8-K","ticker":"PRPL","cik":"0001643953","company_name":"Purple Innovation, Inc.","filed_at":"2024-08-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:13.927921+00:00","generated_at":"2026-05-31T08:04:48.608401+00:00","sec_items":["2.05","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Purple Innovation to close two Utah plants, cut ~13% workforce; expects $35-45M restructuring charges","bullets":["Closing manufacturing facilities in Grantsville and Salt Lake City, UT; consolidating into McDonough, GA facility.","Restructuring costs estimated at $35-45M ($26-32M non-cash) from Q3 2024 through Q2 2025.","Workforce reduction of ~13%; corporate headcount cut completed Aug 22, 2024.","Expected annualized EBITDA benefit of $15-20M in 2025; no impact on FY 2024 guidance.","Closure of Utah facilities expected by Q1 2025; consolidation into Georgia facility by Dec 31, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-071839","json":"https://secwatch.observer/filing/0001213900-24-071839.json","markdown":"https://secwatch.observer/filing/0001213900-24-071839.md","text":"https://secwatch.observer/filing/0001213900-24-071839.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1643953/000121390024071839/0001213900-24-071839-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1643953/000121390024071839/ea0211935-8k_purple.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T08:04:48.608401+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"700b09c6c929ba27f348a8346adb35b17216fed3","claim":"Purple Innovation, Inc. announced a restructuring with charges of $35 million to $45 million affecting manufacturing operations in Grantsville, Utah and Salt Lake City, Utah; headquarters in Lehi, Utah (approximate 13% net reduction of the Company's workforce).","evidence_excerpt":"These actions are expected to result in an estimated range of restructuring-related costs and charges of $35 million to $45 million, beginning in the third quarter of 2024 through the second quarter of 2025 and are expected to result in an approximate 13% net reduction of the Company’s workforce.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1643953/000121390024071839/0001213900-24-071839-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"$35 million to $45 million"},{"label":"Affected area","value":"manufacturing operations in Grantsville, Utah and Salt Lake City, Utah; headquarters in Lehi, Utah"},{"label":"Headcount","value":"approximate 13% net reduction of the Company's workforce"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}