LL Flooring to shutter all stores nationwide, hold store closing sales starting Friday

LL Flooring, which filed for Chapter 11 bankruptcy last month, announced on Thursday that it will be closing all of its locations nationwide.

The company, formerly known as Lumber Liquidators, operates 400 stores in 47 states, including 15 in New Jersey (with North Jersey locations in South Hackensack and Fairfield).

"LL Flooring has been working hard to pursue a going-concern sale of the Company and has actively negotiated with multiple bidders. These discussions have not resulted in an offer, with the necessary financing, that would maximize the value of LL Flooring," the company said in a statement.

In August filings in Delaware, LL Flooring stated it has nearly $110 million in long-term debt. The company had previously announced 94 stores would be closing as part of the bankruptcy.

The Richmond, Virginia-based company said in its bankruptcy court filings that slowing home sales and rising interest rates contributed to lagging sales in the home improvement market.

In its Thursday statement, the company said "it was determined that a sale of the Company’s individual assets, holding closing sales at our stores and winding down the business will deliver the most value to its creditors."

The company said it will begin having "store closing sales" on Friday and thanked its customers "for your support and business."

This article originally appeared on NorthJersey.com: LL Flooring to shutter all stores nationwide, hold store closing sales starting Friday