LL Flooring, which was formerly known as Lumber Liquidators, is set to shutter its Falls Township location as part of company financial problems.
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The company for Chapter 11 bankruptcy protection earlier this week after problems dating back to the last decade.
The store at 150 Lincoln Highway next to a Sherwin-Williams Paints outlet opened its doors in 2016. LL Flooring took over a space previously occupied by a dry cleaner.
In a bid to clear out inventory, LL Flooring announced that it is holding sales with the disclaimer that all purchases will be final.
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Charles Tyson, CEO of LL Flooring, addressed customers in a letter and described the bankruptcy filing as “a legal tool that will provide us with time and financial flexibility as we pursue a going-concern sale of the business.”
The Virginia-based flooring retailer was in negotiations with several parties interested in acquiring the business as of earlier this week, a statement said.
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According to bankruptcy filings and the company’s website, LL Flooring operates 94 stores are slated for closure.
The company operates more than 300 locations across the country.
Tyson said the bankruptcy filing and store closings will provide the company “additional time and financial flexibility.”
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The decision to rebrand from Lumber Liquidators to LL Flooring came after a CBS News “60 Minutes” investigation that revealed excessive levels of formaldehyde in its laminate flooring, leading to a $33 million fine in 2019 for misleading investors about the product’s safety.
LL Flooring ranks among the largest flooring retailers in the U.S.
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