LL Flooring, with 442 stores across 47 states, is considering Chapter 11 bankruptcy, according to Bloomberg ©Bloomberg via Getty Images-LL Flooring Storefront
Revelation 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- 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 remodeling 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.
- Macy’s is closing 150 shops – a third of its total – while Dollar Tree is shutting 1,000 and drug store Rite Aid will close almost 800.
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