LL Flooring will begin closing its remaining 200 stores on September 6 and liquidate its assets, following a failed attempt to secure a buyer.
Flooring, flooring tools and accessories retailer LL Flooring — formerly known as Lumber Liquidators — is closing operations after it failed to find a buyer.
This news comes after the company filed Chapter 11 bankruptcy on Aug. 11.
LL Flooring was unable to negotiate an offer with bidders that would maximize the value of the company and provide necessary funding. The company said that it plans to close all stores and liquidate.
The move will result in the layoff of the company’s some 2,000 employees.
“Under Chapter 11 rules, we are required to achieve the highest or otherwise best offer for the company’s business or assets and, in our case, it was determined that a sale of the company’s individual assets, holding closing sales at our stores and winding down the business will deliver the most value to our creditors,” LL Flooring CEO Charles Tyson said in a news release.
Closing sales at its remaining 200 stores will begin on Sept. 6, aiming for an “orderly wind-down of operations.” Closing sales will be held for the following 12 weeks, with the timing of store closures varying.
The company told business partners that it will continue paying vendors and suppliers “in full under normal terms for goods and services provided on or after the filing date of Aug. 11.”
Customers may still place orders online and in stores until the closing process is completed. Existing orders for installations must be completed within 30 days.
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Anna Debiec
Associate Editor Anna Debiec joined the MDM team in July 2024. She spent the previous two years as an acquisitions editor at book publisher Rowman & Littlefield. She leads MDM’s news reporting and contributes to our various research reports, manages MDM’s social media posting and supports other editorial endeavors.
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