LL Flooring to Close All Locations Amid Bankruptcy Filing - Market Insights

LL Flooring , formerly know as Lumber Liquidators , has make the difficult decision to stopping_point all of its location after failing to procure a buyer for the chain . The company had previously announce that it would be filing for chapter 11 bankruptcy and shutting almost 100 of its 400 location , include the Tuscaloosa shop . However , negotiation with potential buyer hide through , lead to the decision to wind down the business to maximize value for its creditor . departure - out - of - business gross_sales are set to Begin on September 6 and are expect to be complete in about 12 week . The closing will consequence in approximately 2,000 worker lose their positions.

Alabama location that will be shutting include Birmingham , Dothan , Huntsville , Mobile , Montgomery , Pelham , and Tuscaloosa . LL Flooring , which get_down as Lumber Liquidators around 30 old_age ago , change its name to LL Flooring in 2018 due to controversy and lawsuit surround some of its merchandise . customer who have put floor order will rich_person them carry_through within 30 days , but no new installation appointment will be made.

The once formidable floor rival of Home Depot , LL Flooring , is shutting all of its shop after week of filing for bankruptcy . Despite actively negociate with multiple bidder , the company was unable to procure an offer that would maximize its value . Under chapter 11 rule , the company is necessitate to achieve the best offer for its business or assets , lead to the decision to neutralize and wind down operations . The closing procedure is expect to be complete in 12 week , with gross_sales start on September 6.

report of LL Flooring 's impend bankruptcy had been go_around since July , as the company 's gross_sales had been worsen due to a decrease in consumer spending on home renovation . The company 's stock has plummet from 84 cent to 2 cent since filing for chapter 11 bankruptcy . customer who have make order will rich_person their installation carry_through within 30 days , but the company will no longer be offer installation after September 6 . LL Flooring has confront examination in the past due to merchandise controversy , lead to a name change to LL Flooring in 2018.

LL Flooring 's struggle reflect the challenge confront by many company in the retail sector due to persistent inflation and cash - strap customer . The company 's closing semen after Bobs Stores , a beloved retailer in the northeast , announce the permanent_wave closure of all its location . The retail industry continue to face challenge as company voyage change consumer behavior and economic conditions.