One of America’s biggest flooring suppliers has filed for bankruptcy – the latest in a long line of retailers this year to face money problems.
LL Flooring will shut 94 of its 442 stores, which are spread out across 47 states, to cut costs and make the company attractive to a buyer.
The retailer, which specializes in hardwood flooring, has faced falling sales over the past year as families cut back on remodelling their homes.
As well as cutting costs under the Chapter 11 bankruptcy, bosses at LL Flooring are talking to several potential buyers for the 30-year-old company.
Bosses say they expect the company will survive and will meet all existing orders while it reorganizes.
LL Flooring is the latest to shutter stores this year, with the US on course to lose nearly 8,000 physical locations by the end of 2024.
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