LL Flooring officially calls it quits
LL Flooring, formerly known as Lumber Liquidators, is officially finished. In a statement published on its website, the company says:
"Under Chapter 11 rules, the company is required to achieve the highest or otherwise best offer for the company’s business or assets and, in this 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 its creditors."
Amid mounting losses and ongoing leadership turmoil, the company had recently filed for bankruptcy and closed nearly 100 stores throughout the U.S. Meanwhile, the company sought a buyer to perhaps turn its fortunes around. No buyer has materialized, so LL Flooring has decided to close up shop for good.
In a "Customer Letter" signed by CEO Charles Tyson, the company shares more context for the decision:
This is not the outcome that any of us had hoped for. Since 1993, LL Flooring has been at the forefront of crafting beautiful spaces, supporting customers every step of the way – from finding the right material to arranging safe, expert installation. We sincerely appreciate the loyalty of our customers over the last three decades, and 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. As we conduct the store closing sales and complete the overall wind-down process, our stores and online platform remain open and operating. We are planning for closing sales to begin at all of our remaining stores on Friday, September 6, 2024. Closing sales will be held over the subsequent approximately 12 weeks with the timing of closures varying from store to store. We look forward to offering you great deals through the closing process.
According to CBS News, roughly 2,000 employees will lose their jobs after the company winds down operations at its nearly 200 remaining stores. Click here for more information on specifics regarding LL Flooring's wind-down operations.
