UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  March 30, 2009

SELECT COMFORT CORPORATION

(Exact name of registrant as specified in its charter)

Minnesota

(State or other jurisdiction of incorporation or organization)

0-25121	41-1597886
(Commission File No.)	(IRS Employer Identification No.)

9800 59th Avenue North, Minneapolis, Minnesota 55442

(Address of principal executive offices)           (Zip Code)

(763) 551-7000

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 1.01.  ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

Waiver under Credit Agreement

Effective as of March 30, 2009, Select Comfort Corporation entered into a Waiver under the existing Credit Agreement dated as of June 9, 2006, as previously amended, including most recently as of February 28, 2009 (the “Credit Agreement”).  The parties to the Waiver and the Credit Agreement are Select Comfort Corporation, Select Comfort Retail Corporation, JPMorgan Chase Bank, National Association, as Administrative Agent and as Collateral Agent, Bank of America, N.A., as Syndication Agent, and JPMorgan Chase Bank, National Association, Bank of America, N.A., Citicorp USA, Inc., Wells Fargo Bank, National Association and Branch Banking and Trust Co., as Lenders.

Pursuant to the Waiver, the Lenders waived compliance, through April 18, 2009, with (a) the Minimum Interest Coverage Ratio covenant for the fiscal periods ending on or about December 31, 2008 through March 31, 2009, (b) the Maximum Leverage Ratio covenant for the fiscal period ended on or about March 31, 2009, (c) the EBITDA covenant for the fiscal period ending on or about December 31, 2008, and (d) the requirement under Section 5.01(a) of the Credit Agreement that the company deliver its audit for fiscal year 2008 without a going concern qualification or exception.  The company remains in discussions with the Lenders under the Credit Agreement to seek a more permanent solution to meet the company's liquidity requirements.

Pursuant to the most recent amendment of the Credit Agreement entered into as of February 28, 2009, a reduction in the amount available under the line of credit from $90 million to $85 million became effective as of March 31, 2009.

The aforementioned description of the Waiver under the Credit Agreement is qualified in its entirety by reference to the complete terms of the Waiver, a copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

10.1        Waiver under Credit Agreement, dated as of March 30, 2009.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SELECT COMFORT CORPORATION
	(Registrant)
Dated:  April 3, 2009	By:
	Title:  Senior Vice President

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EXHIBIT INDEX

Exhibit No.            Description                                                                                                

10.1  Waiver under Credit Agreement, dated as of March 30, 2009.

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