LL Flooring, the hardwood flooring retailer formerly known as Lumber Liquidators, is going out of business.
Less than a month after filing for Chapter 11 bankruptcy protection, the Virginia-based company says it is now “winding down operations” after failing to find a buyer in recent negotiations with prospective bidders. That means all of its remaining stores will soon close their doors.
LL Flooring expected to begin the process this week, with closing sales at hundreds of stores slated to start Friday. The retailer says store closures should be completed over the next 12 weeks, with timing varying by location.
“This is not the outcome that any of us had hoped for,” LL Flooring CEO Charles Tyson wrote in a letter to customers. “As we begin to wind down operations and close our stores, we are committed to doing so as smoothly as possible to minimize the impact on you, our associates and the communities we serve.”
LL Flooring touted more than 400 stores earlier this year. By the time of its Chapter 11 petition, the company said it would be continuing forward with closer to 300 locations, with closing sales already beginning at 94 stores. But now, the closings will effect all remaining stores.
https://apnews.com/article/ll-flooring-bankruptcy-stores-close-e719082b023e13f150a2ff0fc363d121