---
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"
generated_at: "2026-05-31T08:04:48.608401+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Purple Innovation to close two Utah plants, cut ~13% workforce; expects $35-45M restructuring charges

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-071839
- JSON: https://secwatch.observer/filing/0001213900-24-071839.json
- Plain text: https://secwatch.observer/filing/0001213900-24-071839.txt

## Key facts
- Restructurings & Charges
  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).
  - Type: restructuring
  - Charge: $35 million to $45 million
  - Affected area: manufacturing operations in Grantsville, Utah and Salt Lake City, Utah; headquarters in Lehi, Utah
  - Headcount: approximate 13% net reduction of the Company's workforce
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390024071839/0001213900-24-071839-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.