LL Flooring, formerly known as Lumber Liquidators, has announced it will close all 400 of its stores nationwide, including four in Mississippi and one on County Line Road in Jackson.
In an announcement Wednesday, the company said talks to find a buyer failed to draw an offer with “the necessary financing that would maximize the value of the company.” As a result, the company decided the sale of its “individual assets” would most benefit its creditors.
“It is with a heavy heart that we must let you know that we are going to begin the process of winding down LL Flooring’s business and closing all of our stores,” LL Flooring President and CEO Charles Tyson said in a statement. “This is not the outcome that any of us had hoped for.”
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Earlier in August, it was reported that LL Flooring would close 94 stores in more than 30 states as it filed for Chapter 11 Bankruptcy. One of those was in Hattiesburg .
The company said that it is nearly $110 million in long-term debt in filings made in Delaware bankruptcy court .
The Richmond, Virginia-based company said in the filings that slowing home sales and rising interest rates contributed to slower sales in the home improvement market.
“We sincerely appreciate the loyalty of our customers over the last three decades, and as we begin to wind down operations and close our stores, we are committed to doing so as smoothly as possible to minimize the impact on you, our associates and the communities we serve,” Tyson said.
According to the company, if you have already ordered an installation, it will be fulfilled within 30 days, though it will no longer accept installation orders.
Additionally, gift cards will be accepted until Sept. 19.
Ross Reily can be reached by email at rreily@gannett.com or 601-573-2952. You can follow him on Twitter @GreenOkra1.
This article originally appeared on Mississippi Clarion Ledger: LL Flooring, formerly Lumber Liquidators, closing more stores. See where in Mississippi
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