It is with a heavy heart that we must let you know that we are going to begin the process of winding down LL Flooring's business and closing all of our stores. This is not the outcome that any of us had hoped for.
While the company was reportedly negotiating with several bidders, it did not result in a sale. The company determined that it could bring the maximum value to its creditors by selling off its assets.
The end of LL Flooring comes as home improvement stores have been struggling against inflation and penny-pinching families. With Americans cutting costs wherever they can, updating their homes seems to be one area they can afford to trim.
In an announcement Friday, president and CEO Charles Tyson said the company will close all its stores over the next 12 weeks, following nearly 100 store closures earlier this year.
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