LL Flooring, Formerly Lumber Liquidators, to Close After 30 Years in Business
LL Flooring, the retailer once known as Lumber Liquidators, is shutting down operations after three decades in business. The company announced its decision to liquidate after failing to secure a buyer during its recent bankruptcy proceedings.
Starting September 6, the remaining 200 LL Flooring stores will begin sales as part of an “orderly wind-down of operations,” which is expected to conclude in approximately 12 weeks. The closure will result in the loss of around 2,000 jobs.
Originally launched as Lumber Liquidators, the company began by buying and selling excess inventory and grew into a major retailer, offering over 500 types of hard-surface flooring. At its peak in 2018, LL Flooring operated more than 400 locations.
However, facing financial struggles, LL Flooring filed for Chapter 11 bankruptcy just three weeks ago and began closing 94 stores while seeking a buyer. Despite being in “active negotiations with multiple bidders,” the company stated that these discussions failed to yield an offer with the necessary financing to maximize value. As a result, LL Flooring determined that selling the company’s individual assets and holding closing sales would provide the most value to its creditors.
In a letter to customers, LL Flooring expressed its disappointment: “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. This is not the outcome that any of us had hoped for.”
Customers with existing flooring orders will have them fulfilled within 30 days, but no new installation appointments will be scheduled after September 6.
The company’s troubles are rooted in a series of controversies that began in 2015 when a “60 Minutes” investigation exposed that its suppliers were providing products with formaldehyde levels exceeding regulatory standards. Lumber Liquidators faced several lawsuits and penalties in the following years, including a $36 million settlement in 2018 and a $33 million penalty in 2019 for misleading investors about the formaldehyde issue. In 2021, the company rebranded as LL Flooring to distance itself from its troubled past.
The closure of LL Flooring adds to the growing list of retailers struggling as consumers cut back on non-essential spending. Other recent retail casualties include furniture chains Z Gallerie and Mitchell Gold + Bob Williams, which filed for bankruptcy, and Conn’s HomePlus, which also recently entered bankruptcy proceedings. Additionally, Big Lots announced plans to close a quarter of its stores.