LL Flooring, the flooring company formerly known as Lumber Liquidators, is going out of business after the bankrupt company failed to find a buyer.
LL Flooring filed for Chapter 11 bankruptcy protection last month, saying it was in negotiations with multiple parties to sell its business. The company also announced that it would close 94 stores across the U.S.
But in a statement on Wednesday, the company said that the talks had failed to yield an offer and that it now plans to wind down the business. Roughly 2,000 workers will lose their jobs.
LL Flooring, which launched in Stoughton, Mass., as Lumber Liquidators in 1994, 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. . . .
Shouldn’t use softwood market to gauge hardwood flooring market.
Now having said that LL flooring hasn’t kept up with changing market…specially where big box stores where people buy engineered floors.
There is also companies/mills are now selling samples through Amazon and other websites.
Just recently for family member I’ve I found 1400 sqft of Walnut engineered flooring with 5/32 wear level over 8 ply Baltic birch plywood core made from Kentucky area cheaper than anything that LL flooring sell using Asian manufactures.
Obama was president from 2008 to 2016 and I see there is the biggest decline. Then came the uptick from the Trump administration lasting into 1/2 half of the Biden/Harras abomination before it took another dive. Everything that leftist liberal progressives touch turns rancid and it just gets worse and worse.
Well, the major home supply retailer are so deep in debt their mothers are crying and wondering “Where did I go wrong? I never raised him to be like this.”
I think they should use their profits to pay down debt and become fortresses against any coming storm. (Conservatism vs liberalism are business philosophies as much as they are economic and political philosophies.)
But when interest rates are so low, what’s the point?
