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LL Flooring bankrupt; 94 stores closed
LL Flooring files for bankruptcy, closing 100 stores. This isn't surprising given the company's history of unethical practices, including selling products with dangerous formaldehyde levels and false advertising. Another example of corporate greed leading to downfall.
Published August 12, 2024 at 7:26pm by James Powel
LL Flooring, Formerly Lumber Liquidators, to Close 94 Stores in Over 30 States
- LL Flooring has filed for Chapter 11 bankruptcy and will close 94 stores, citing nearly $110 million in long-term debt.
- The company said slowing home sales and rising interest rates contributed to its financial troubles.
- Stores in over 30 states will be affected, with closures in AL, AZ, CA, CO, CT, FL, GA, IL, IN, IA, LA, MA, MD, MI, MN, MS, MO, NV, NJ, NY, NC, OH, OR, PA, TN, TX, UT, VA, WA, WV, and WI.
- The company will stop accepting gift cards at all locations from Sept. 4 and has around $131 million in outstanding gift cards.
- LL Flooring is seeking a buyer and has $130 million in Chapter 11 financing from existing lenders.
- See the full list of store closures and their links here.
Other Retailers Closing Stores:
- Big Lots announced it may close up to 315 stores due to macroeconomic challenges and declining sales.
- The company has not released a list of affected stores but has marked some locations as closing on their info pages.
Read more: LL Flooring files bankruptcy, will close 94 stores. Here's where they are.