With Last-Minute Buyer, LL Flooring to Keep 219 Stores Open

Flooring, flooring tools and accessories retailer LL Flooring — formerly known as Lumber Liquidators — reached an agreement with F9 Investments for the sale of its business that appears to have averted a complete closure of the organization.

The announcement marks a reversal of the company’s Sept. 4 statement, which had outlined liquidation plans.

The new plan still involves the closure of 211 stores, including 117 closures that have already been initiated and 94 others that were originally announced in the company’s Chapter 11 bankruptcy filing on Aug. 11. Hilco Merchant Resources continues to assist LL Flooring through the closure process.

F9 Investments will acquire 219 stores, the inventory within those stores and at LL Flooring’s Sandston, VA-based distribution center, the company’s intellectual property and other assets.

“We are pleased to have reached this agreement with F9 Investments for a going-concern safe following significant efforts but our team and advisors to preserve the business and maintain ongoing operations,” LL Flooring President and CEO Charles Tyson said in a Sept. 6 news release. “As we move through the court-supervised process toward the approval and completion of this transaction, we remain committed to continuing to serve our valued customers and working closely with our vendors and partners.”

LL Flooring continues to generally operate and serve its customers from those 219 stores that are part of the purchase agreement and the company’s online platform.

The transaction is expected to be completed by the end of September.

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