Overview
- Leslie’s filed voluntary, prearranged Chapter 11 this week and has closed 76 underperforming stores, including multiple locations in the Bay Area.
- The company says it has support from more than 80% of its lenders to remove roughly $685 million of funded debt, a deal that would eliminate about 90% of that portion of its obligations.
- In its Chapter 11 documents Leslie’s reported $722.2 million in total assets and about $1.2 billion in total liabilities and debt, underscoring the scale of the balance-sheet fix it seeks.
- Leslie’s says it will keep remaining stores and its online business open to serve customers, but the closures will affect store employees, local landlords, and neighborhood access to pool services.
- The filing follows prior downsizing in late 2025 and early 2026 and reflects years of slipping revenue and recent losses, and the company says it plans to emerge from restructuring in early 2027 with a leaner store network.