A Home Depot Rival Is Now Closing 100 Stores

A Home Depot rival is now closing 100 stores after the company declared an unexpected Chapter 11 bankruptcy.

LL Flooring, previously known as Lumber Liquidators, plans to close nearly a quarter of its stores as it addresses its debt issues.

The company, which filed for bankruptcy in mid-August, operates around 400 stores in the U.S. but aims to permanently shut down 94 locations, per the US Sun.

Customers are flocking to these stores to take advantage of closing sales, with reports on social media indicating discounts ranging from 50% to 80% off original prices.

LL Flooring has a presence in 31 states.

One customer expressed frustration upon hearing the news, noting the company’s long history since its founding in 1994.

Rebranded from Lumber Liquidators in 2020, LL Flooring specializes in budget-friendly flooring options, including hardwood, laminate, and vinyl.

The rebranding aimed to refresh its image after a 2015 scandal involving allegations of elevated formaldehyde levels in its products, as reported by Floor Covering Weekly.

The company also underwent a leadership change in 2020.

Despite efforts to remain competitive, LL Flooring faced declining sales and rising financial pressures due to inflation.

The brand observed that homeowners were less inclined to undertake home improvement projects amid increasing consumer prices.

CEO Charles Tyson stated that the flooring chain will continue operations post-bankruptcy.

In a letter to customers, he explained that the Chapter 11 filing is a “legal tool” designed to provide time and financial flexibility as they pursue a sale of the business.

However, the company is still looking to reduce its store count, with the majority of closures occurring in California, where the most locations are affected.

Which locations are closing?

Below are the locations that are set to close:

• Tuscaloosa, AL
• Mesa, AZ    
• Phoenix, AZ
• Prescott Valley, AZ  
• Bakersfield, CA 
• Burlingame, CA
• Elk Grove, CA
• Fairfield, CA
• Fresno, CA
• Rancho Cucamonga, CA
• Salinas, CA
• S. San Diego, CA
• Santee, CA
• Torrance, CA
• Visalia, CA
• Longmont, CO
• Loveland, CO
• Thornton, CO
• Milford, CT 
• North Haven, CT
• Norwalk, CT
• Waterbury, CT
• The Showroom in Clearwater, FL
• Florida City, FL
• Gainsville, FL
• St. Augustine, FL
• Tampa, FL
• Cumming, GA
• Roswell, GA
• Bloomington, IL 
• Champaign, IL
• Crystal Lake, IL
• E. Peoria, IL
• Geneva, IL
• Mundelein, IL
• South Elgin, IL
• Greenwood, IN
• Lafayette, IN
• Muncie, IN  
• Davenport, IA
• Broussard, LA
• Lake Charles, LA
• Framingham, MA 
• Leominster, MA
• Edgewood, MD
• Lutherville, MD  
• Battle Creek, MI
• Kentwood, MI
• Chanhassen, MN
• Rochester, MN
• St. Cloud, MN
• Hattiesburg, MS
• Chesterfield, MO
• Joplin, MO
• N. Kansas City, MO
• Las Vegas, NV
• Mount Holly, NJ 
• Woodbridge, NJ
• Woodbury, NJ
• Medford, NY
• New Hartford, NY
• Staten Island, NY
• Westbury, NY
• Burlington, NC
• SE Cincinnati, OH
• W. Columbus, OH
• Reynoldsburg, OH
• Solon, OH
• Albany, OR
• Exton, PA
• Fairless Hills, PA
• Philadelphia, PA  
• Clarksville, TN
• Franklin, TN
• Jackson, TN
• Abilene, TX
• Arlington, TX
• College Station, TX
• Denton, TX
• Fort Worth, TX
• Houston Galleria, TX
• Katy, TX
• Killeen, TX
• McAllen, TX
• S. San Antonio, TX
• Sherman, TX
• Riverdale, UT
• Woodbridge, VA
• Bellingham, WA
• Olympia, WA
• Yakima, WA  
• Beckley, WV
• Parkersburg, WV
• Menomonee Falls, WI

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Also Read: A Struggling Gas Station Chain Now Files An Unexpected Bankruptcy

Other Economy News Today

A massive rental company with 34k locations now shuts down its operations after filing for bankruptcy and 22 years in business.

Users of movie rental company Redbox were left saddened after it was announced that it would be shutting down operations.

The announcement comes after the rental company’s parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 11 bankruptcy.

According to court documents obtained by the Washington Post, the Connecticut-based company claimed to be one billion dollars in debt.

As a result, Redbox, which was a staple of many grocery stores including Walgreens, and CVS will be shuttered.

Many fans took to social media to express how upset they were with the loss.

“I knew it was coming, sadly,” UltraVada wrote in a post on X, formerly Twitter.

“It was inevitable,” a second person mourned.

“I knew this would happen when I heard they filed for Bankruptcy but its still sad to hear. I have a lot of fun memories of Redbox,” a third person lamented.

“I still don’t think this will be or ever be the end of physical media as we do still get remasters of some movies in 4k/Bluray.”

One person revealed that they had forgotten the rental service had existed.

Some users were not surprised by the announcement.

“Not surprised since nobody really rents videos anymore with the rise of streaming and what not,” one user admitted.

“Also kinda remember getting into a feud with them on here.”

One user also pointed out that the last remaining Blockbuster, located in Bend, Oregon, managed to outlive Redbox.

Redbox was acquired by Chicken Soup for the Soul Entertainment (CSSE) in 2022 and became one of the company’s flagship video-on-demand streaming services.

At its peak, CSSE operated more than 20,000 DVD rental kiosks across the country.

The company’s filing means that the company’s more than 1,000 employees will be laid off, per The Wall Street Journal.

It was also reported by Deadline that many employees at CSSE hadn’t received their paychecks and had medical benefits cut in late June.

Also Read: This Massive Mall Retailer Is Now Closing In California

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Also Read: An Aerospace Manufacturer Now Files Unexpected Chapter 11 Bankruptcy

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