Reported 2 months ago
LL Flooring Holdings Inc., previously known as Lumber Liquidators, has filed for Chapter 11 bankruptcy to close several locations while attempting to sell the remaining stores. The retailer faces $110 million in long-term debt and challenges linked to the COVID-19 pandemic, including decreased home sales and rising interest rates. The company plans to close 94 locations initially, while maintaining operations at another 300 stores, and has secured $130 million in financing to support its operations during the bankruptcy process.
Source: YAHOO