Reported Sunday, LL Flooring Files For Chapter 11 Bankruptcy, Pursues Business Sale Amid Reorganization Efforts
Portfolio Pulse from Benzinga Newsdesk
LL Flooring has filed for Chapter 11 bankruptcy and is pursuing a going-concern sale of its business. The company has secured debtor-in-possession financing to support its operations and will continue to serve customers both online and in stores.
August 12, 2024 | 5:52 am
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LL Flooring has filed for Chapter 11 bankruptcy and is seeking a going-concern sale of its business. The company has secured debtor-in-possession financing to support its operations and will continue to serve customers both online and in stores.
The filing for Chapter 11 bankruptcy indicates significant financial distress, which is likely to negatively impact LL Flooring's stock price in the short term. The pursuit of a business sale and securing of financing may provide some operational stability, but the overall sentiment is negative.
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