Big Box Store Rival of Home Depot to Cut Back with 100 Store Closures

MJP –

A Home Depot rival is now closing 100 stores after the company declared an unexpected Chapter 11 bankruptcy.

LL Flooring, previously known as Lumber Liquidators, plans to close nearly a quarter of its stores as it addresses its debt issues.

The company, which filed for bankruptcy in mid-August, operates around 400 stores in the U.S. but aims to permanently shut down 94 locations, per the US Sun.

Customers are flocking to these stores to take advantage of closing sales, with reports on social media indicating discounts ranging from 50% to 80% off original prices.

Big Box Store Rival of Home Depot to Cut Back with 100 Store Closures

LL Flooring has a presence in 31 states.

One customer expressed frustration upon hearing the news, noting the company’s long history since its founding in 1994.

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Rebranded from Lumber Liquidators in 2020, LL Flooring specializes in budget-friendly flooring options, including hardwood, laminate, and vinyl.

The rebranding aimed to refresh its image after a 2015 scandal involving allegations of elevated formaldehyde levels in its products, as reported by Floor Covering Weekly.

The company also underwent a leadership change in 2020.

Despite efforts to remain competitive, LL Flooring faced declining sales and rising financial pressures due to inflation.

The brand observed that homeowners were less inclined to undertake home improvement projects amid increasing consumer prices.

CEO Charles Tyson stated that the flooring chain will continue operations post-bankruptcy.

In a letter to customers, he explained that the Chapter 11 filing is a “legal tool” designed to provide time and financial flexibility as they pursue a sale of the business.

However, the company is still looking to reduce its store count, with the majority of closures occurring in California, where most locations are affected.