LL Flooring files for bankruptcy, announces plans to close 3 Indiana stores
INDIANAPOLIS (WISH) — Hardwood retailer LL Flooring (formerly Lumber Liquidators) has filed for Chapter 11 bankruptcy and plans to close 94 stores, including three locations in Indiana.
The company says the bankruptcy process will provide it with extra time and flexibility as it closes certain stores while looking for a buyer.
“After a comprehensive review of options to enhance its liquidity position in a challenging macro environment, a determination was made by LL Flooring that initiating a Chapter 11 process is the best path forward for the Company,” LL Flooring said on its website.
The hardwood retailer warned in July that it could file for bankruptcy in the coming weeks due to slow sales and a major decline in home renovation, according to Bloomberg.
As of 1 p.m. Monday, the LL Flooring website showed three Indiana store closings:
A banner on the website for each location reads, “This LL Flooring store location will be closing soon. Shop in store for liquidation deals. All sales final.”
LL Flooring says closing sales will continue over the next two months. Specific store closing dates were not provided.
LL Flooring directed shoppers to visit its restructuring website at www.LLFlooringRestructuring.com and its Customer FAQ page.
Lumber Liquidators, founded in 1994, grew to more than 400 stores in the U.S. and Canada by 2018. The company underwent a complete rebranding in April 2020 and changed its name to LL Flooring.