LL Flooring, formerly known as Lumber Liquidators, is going out of business after the company failed to find a buyer to rescue the 30-year-old flooring retailer.
The company, which began as Lumber Liquidators in 1993, said it would hold closing sales at its roughly 200 remaining retail locations as the company moves to shutter them over the next 12 weeks.
The company filed for Chapter 11 bankruptcy protection in Delaware on August 11, 2024, and planned to close 94 locations as part of the sale.
Under Chapter 11 rules, the company is required to achieve the highest or otherwise best offer for its business or assets. In LL Flooring’s case, it was determined that selling the company’s individual assets, holding closing sales at stores, and winding down the business would deliver the most value to its creditors.
The retailer told customers it would fulfill orders in place for installation within 30 days, and the company will not offer installations after September 6, 2024.
Lumber Liquidators was once the largest specialty retailer of hardwood flooring in North America and had over 400 retail locations. However, a 2015 "60 Minutes" report revealed that the company had dangerous levels of formaldehyde in its flooring. In 2019, LL Flooring agreed to pay $33 million in fines for misleading investors about levels of the chemical in its imported laminate flooring.
Read past coverage of LL Flooring here.
