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2024-09-08 Economy
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LL Flooring shutters all 442 stores after filing for bankruptcy
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[POSTMILLENNIAL] American flooring company LL Flooring, previously known as Lumber Liquidators, has filed for bankruptcy and will be shuttering all of its 442 stores across 47 states. This, after being in business for the past three decades.
The retailer is one of the largest flooring companies in the US and is considered one of Home Depot's biggest rivals. Around 2,000 of its employees will now be without jobs.
The company informed customers about the bankruptcy in a letter sent on Wednesday, obtained by the Daily Mail.
"It is with a heavy heart that we must let you know that we are going to begin the process of winding down the business and closing all of our stores," LL Flooring said.
The company will now begin liquidating its inventory in order to close down its remaining stores. It had already shuttered 100 of its 442 stores to cut costs after being unable to obtain investors and find a buyer. The rest of the liquidations are scheduled to begin on Friday and will last for approximately 12 weeks.
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Posted by Fred 2024-09-08 00:00||
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