Overview

• LL Flooring, formerly Lumber Liquidators, has filed for Chapter 11 bankruptcy to reorganize its business.
• The company will close 94 out of its approximately 300 stores across 30 states.
• LL Flooring has secured $130 million in debtor-in-possession financing to maintain operations during the bankruptcy process.
• CEO Charles Tyson stated the move provides financial flexibility and time to negotiate a sale of the business.
• The retailer cited inflation and shifting consumer spending habits as key factors in its financial struggles.