After failing to find a buyer, LL Flooring, formerly Lumber Liquidators, has announced that it is shuttering its remaining 200 locations nationwide.
In an announcement Wednesday, the company said it could not secure an offer with “the necessary financing that would maximize the value of the company.” As a result, the company decided the sale of its “individual assets” would most benefit its creditors.
“It is with a heavy heart that we must let you know that we are going to begin the process of winding down LL Flooring’s business and closing all of our stores,” LL Flooring President and CEO Charles Tyson told customers in a statement, adding, “This is not the outcome that any of us had hoped for.”
The remaining 200 LL Flooring locations will begin their going-out-of-business sales on Friday. The company expects the closing sales to be held over the next 12 weeks, with closing dates varying from store to store.
LL Flooring has 37 locations in California, including stores in Los Angeles, San Diego, Santa Ana, Rancho Cucamonga, Monrovia, Murrieta, Pomona and Ventura.
“We sincerely appreciate the loyalty of our customers over the last three decades, and as we
begin to wind down operations and close our stores, we are committed to doing so as
smoothly as possible to minimize the impact on you, our associates and the communities we
serve,” Tyson said.
LL Flooring said that the company has experienced several macroeconomic and operational changes over the past year due to inflation, rising labor costs and a shift in customer spending.
Last month, the company announced it was filing for Chapter 11 bankruptcy protection and closing 94 locations.
Though its brick-and-mortar stores are closing, the company said its online platform will “remain open and operating.”
According to the company, if you have already ordered an installation, it will be fulfilled within 30 days. However, starting Friday, the company will no longer accept installation orders. After that, customers will need to coordinate installation independently.
Additionally, gift cards will be accepted until Sept. 19.
The company’s bankruptcy filing is part of a growing trend that has been seen this year, with several companies citing similar financial shortfalls. This year, Red Lobster’s total locations dropped from 700 to its current 500 locations after the company faced major financial challenges since the COVID-19 pandemic.
