CBS News: LL Flooring, (formerly Lumber Liquidators,) is liquidating after failing to find a buyer (hardwood for sale cheap?)

Gaius · 2024-09-06T14:48:52.255Z

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. . . .

cbsnews.com

LL Flooring, formerly Lumber Liquidators, is liquidating after failing to find...

LL Flooring, once North America's largest specialty seller of hardwood floors, is closing its doors after 30 years in business.

Gaius · 2024-09-06T14:52:28.795Z

Wow.
Back to 2004 levels. that was like 20 years ago, right?

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Gaius · 2024-09-06T14:57:09.749Z

Meanwhile, here is the chart for (softwood) lumber prices.

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Nemesis · 2024-09-06T17:28:44.672Z

They never really recovered after it was revealed the shoddy chinese materials they used.

Glenn Beck used to shill for them.

conan · 2024-09-06T18:07:10.784Z

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.

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Had that delivered to house 5.63 cents a foot.

And yes that’s real walnut plank cut not rotatory cut and made right here in good old USA.

Also big box stores are selling vinyl planking so cheap has driven em out of business.

So LL flooring going out isn’t surprising for me.

Gaius · 2024-09-06T21:52:14.254Z

conan:

Shouldn’t use softwood market to gauge hardwood flooring market.

The link is that I look at both flooring and 2x4s as “products sold by homet suppky stores.”

In fact an early version of this thread included a chart in rebar futures. *Yeah I didn’t know either )

LucyLou · 2024-09-06T22:02:31.894Z

That is gorgeous

Roxiebelle · 2024-09-06T22:25:04.036Z

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.

Gaius · 2024-09-07T13:32:00.084Z

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.”

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Jezcoe · 2024-09-07T14:15:10.213Z

Gaius:

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.”

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Maybe they should stop pouring money into stock buybacks.

Gaius · 2024-09-07T15:19:23.022Z

Jezcoe:

Gaius:

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.”

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Maybe they should stop pouring money into stock buybacks.

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?