LL Flooring, formerly known as Lumber Liquidators, is closing its last 200 stores across the U.S.
On Wednesday, the company announced it couldn’t find a buyer with the financing needed to maximize its value. As a result, it will sell off its assets to pay creditors.
“This is not the outcome that any of us had hoped for,” said CEO Charles Tyson in a statement. He expressed sadness, saying they are starting the process of winding down the business.
The remaining stores will begin their going-out-of-business sales on Friday. These sales will last up to 12 weeks, with closure dates varying by location.
California has 37 LL Flooring stores, including in Los Angeles, San Diego, and Ventura. The company deeply appreciates customer loyalty over the past 30 years, Tyson noted.
A LL Flooring store in Torrance, California, already closed in August due to financial struggles. The company cited rising costs, inflation, and changes in customer spending as reasons for their troubles.
In July, LL Flooring filed for Chapter 11 bankruptcy and closed 94 locations. While physical stores will close, their online platform will remain open.
Installations already ordered will still be fulfilled within 30 days, but new installation orders will stop starting Friday. Gift cards will be accepted until September 19.
LL Flooring isn’t alone in facing these challenges. Red Lobster has also closed 200 locations since the pandemic began, due to financial difficulties.