Chapter 11 Bankruptcy Hits LL Flooring: Michigan Locations Closing
LL Flooring, previously known as Lumber Liquidators, has announced a significant restructuring plan involving the closure of 94 store locations across 31 states. This move comes as part of a Chapter 11 bankruptcy filing, which allows the company to reorganize its operations amid financial difficulties.
Why The Closings?
From LL Flooring:
“This step is intended to provide LL Flooring with additional time and financial flexibility as we reduce our physical footprint and close certain stores while pursuing a going-concern sale of the rest of our business.”
Impact on Michigan Locations
Among the affected locations, LL Flooring will shutter two stores in Michigan. The closures will impact the stores in Battle Creek and Kentwood. As of now, there is no specific timeline for when these locations will close.
Reason Behind the Closures
The decision to close these stores reflects broader trends affecting businesses nationwide. With consumers cutting back on non-essential purchases due to inflation and rising costs, companies like LL Flooring are facing significant financial strain. This trend is part of a larger pattern seen in other retailers, including Big Lots, Rite-Aid, JoAnn Fabrics, and Bed, Bath & Beyond, which have also had to make tough decisions and close multiple locations.
Current and Future Operations
Despite the closures, LL Flooring will continue to operate 11 locations throughout Michigan, including stores in Auburn Hills, Brighton, Clinton Township, Comstock Park, Kalamazoo, Lansing, Redford, Saginaw, Taylor, Traverse City, and Ypsilanti. The company is actively seeking a buyer and has attracted some interest from potential bidders.
For a full list of the 94 locations set to close, you can visit the company’s website.
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