LL Flooring to Close Three Stores in Minnesota During Bankruptcy Proceedings
Monday, 12 August 2024, 14:09
Overview of Bankruptcy Situation
LL Flooring has initiated a Chapter 11 bankruptcy filing, impacting its operations in Minnesota.
Store Closures
- Three locations will close as part of the restructuring plan.
- Four stores will remain open during this transition.
Future Outlook
The company is exploring options for a going-concern sale, which could allow it to continue operations under new ownership.
Conclusion
The impending closures highlight the challenges faced within the retail flooring industry, but negotiations with potential buyers could pave the way for a future revival.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.