Popular Home Depot Rival Closing 94 Stores Across America
Businesses are struggling in America, with many filing for bankruptcy or full-out shuttering locations.
In the case of Home Depot rival Lumber Liquidators, it's both.
L.L. Flooring — formerly Lumber Liquidators Flooring — has announced that they will be shutting down roughly 25 percent of their storefronts across the United States.
Being that they have more than 400 locations, that shakes out to be 94 stores.
L.L. Flooring also just filed for Chapter 11 bankruptcy, so this move seems to line up with that.
CNN reports that major furniture retailers continue to struggle after a pandemic boom, particularly as Americans deal with persistent inflation. In addition, big-ticket-items, like furniture and home improvements have had to take a back seat to other, more necessary items.
"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," Charles Tyson,CEO of L.L. Flooring, says.
L.L. Flooring has the list of each store that is set to close on their website.
If you are in the market for new flooring or home improvement items, the locations that are set to close are doing major sales, so it might be worth a look if you want to save even more money on home renovation items.
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