Bankruptcy Alert: LL Flooring Shuts Down 2 Michigan Locations
LL Flooring, formerly known as Lumber Liquidators, has announced it will be closing 94 locations across 31 states, including two in Michigan, as part of its Chapter 11 bankruptcy proceedings. This move follows a series of similar closures by major retailers such as Big Lots, Rite-Aid, JoAnn Fabrics, and Bed, Bath & Beyond.
Why The Closings?
From LL Flooring:
“This step is intended to provide LL Flooring with additional time and financial flexibility as we reduce our physical footprint and close certain stores while pursuing a going-concern sale of the rest of our business.”
Reasons Behind the Closures
Chapter 11 bankruptcy allows companies to reorganize their debts and operations. For LL Flooring, this restructuring involves significant store closures as the company seeks to stabilize its finances and find a buyer. The retail sector has been hit hard by inflation and shifting consumer spending patterns, with many cutting back on non-essential purchases.
Michigan Store Closures
In Michigan, LL Flooring will close its locations in Battle Creek and Kentwood. The company has not provided specific dates for these closures. However, the remaining 11 LL Flooring stores in Michigan are:
- Auburn Hills
- Brighton
- Clinton Township
- Comstock Park
- Kalamazoo
- Lansing
- Redford
- Saginaw
- Taylor
- Traverse City
- Ypsilanti
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