Which well-known retail stores filed for bankruptcy?
Red Lobster, Walgreens, Rite Aid and many other retailers are battling with worsening financials.
LL Flooring, previously known as Lumber Liquidators, announced that it will close four Ohio stores as it shutters 94 stores nationwide.
The retail flooring company filed for Chapter 11 bankruptcy on Sunday, citing slowing home sales and rising interest rates, per a release on its website. LL Flooring is the latest company to follow the trend of store closures from companies like Big Lots, Rite Aid, and Walgreens.
LL Flooring said in the filings that it has tried finding a buyer for the company but is willing to solicit offers to close even more stores if it cannot find one, according to USA TODAY. According to the filings, the company has nearly $110 million in long-term debt, and as a result, it plans to shutter 94 stores across 32 states.
“After comprehensive efforts to enhance our liquidity position in a challenging macro environment, a determination was made that initiating this Chapter 11 process is the best path forward for the Company,” said LL Flooring CEO Charles Tyson. The company’s other 300 stores will remain open.
Which stores are closing in Ohio?
Of the 15 store locations in Ohio, LL Flooring lists four stores that will close. For each location, the company’s website displays a banner near the top of the page that indicates that the store will be closing. Here are the ones that will be shutting down soon:
Southeast Cincinnati: 454 Ohio Pike, Unit No. 58 (Cherry Grove Plaza), Cincinnati, OhioWest Columbus: 4242 West Broad St., Columbus, OhioReynoldsburg: 2736 Brice Rd. (Brice Park Shopping Center), Reynoldsburg, OhioSolon: 6025 Kruse Drive, Suite 141 (Uptown Solon Center), Solon, Ohio
Customers can shop for liquidation deals at the closing locations. All sales are final. Shoppers have until Sept. 3 to redeem any gift cards, per LL Flooring’s FAQ page. Afterward that, all stores—including the ones that remain open—will no longer accept gift cards.
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Publish date : 2024-08-14 06:09:00
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