[ad_1]
The flooring company said it was negotiating with several potential buyers interested in purchasing the business. The list of closing stores covers 31 states.
WASHINGTON — LL Flooring, the specialty flooring company formerly known as Lumber Liquidators, is closing down about a quarter of its stores as the chain files for Chapter 11 bankruptcy protection.
In a letter to customers, CEO Charles Tyson called the filing “a legal tool that will provide us with time and financial flexibility as we pursue a going-concern sale of the business.” Tyson stressed the company remains “open for business.”
LL Flooring officially filed for bankruptcy in Delaware Sunday, but said in a statement that they are negotiating with several parties interested in buying the business.
In bankruptcy filings and on its website, LL Flooring listed 94 stores in 31 states that would close. More than 300 are expected to remain open as the company seeks buyers.
LL Flooring is one of the largest flooring retailers in the country.
The company changed its name from Lumber Liquidators after a “60 Minutes” report found dangerous levels of formaldehyde in the flooring sold there. The company agreed to a deal in 2019 that had it pay $33 million in fines for misleading investors about the levels of formaldehyde in its laminate flooring.
LL Flooring store closings 2024: Full list of closures
Here is a full list of the stores LL Flooring announced would be closing:
Alabama
Arizona
California
Colorado
Connecticut
Florida
Clearwater, FL (Showroom)
Georgia
Illinois
Indiana
Iowa
Louisiana
Massachusetts
Maryland
Michigan
Minnesota
Mississippi
Missouri
Nevada
New Jersey
New York
North Carolina
Ohio
Oregon
Pennsylvania
Tennessee
Texas
Utah
Virginia
Washington
West Virginia
Wisconsin
[ad_2]
Source link