LL Flooring files for bankruptcy, to pursue sale of business
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 12 2024
0mins
Source: Reuters
LL Flooring Bankruptcy Proceedings: LL Flooring has initiated Chapter 11 bankruptcy proceedings and is seeking a going-concern sale of its business, with active negotiations underway with multiple bidders and plans to close 94 stores.
Financial Status and Future Plans: The company has secured $130 million in debtor-in-possession financing and reported estimated assets between $500 million to $1 billion, while liabilities range from $100 million to $500 million.
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Analyst Views on LIVE
About LIVE
Live Ventures Incorporated is a diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies. The Company's segments include Retail-Entertainment, Retail-Flooring, Flooring Manufacturing, Steel Manufacturing, and Corporate and Other. Retail-Entertainment segment includes Vintage Stock, Inc., which is engaged in the retail sale of new and used movies, music, collectibles, comics, books, games, game systems, and components. Retail-Flooring segment includes Flooring Liquidators, Inc., which is engaged in the retail sale and installation of floors, carpets, and countertops. Flooring Manufacturing segment includes Marquis Industries, Inc., which is engaged in the manufacture and sale of carpet and the sale of vinyl and wood floor coverings. Steel Manufacturing Segment includes Precision Industries, Inc., The Kinetic Co., Inc., Precision Metal Works, Inc and CSF Holdings, LLC. It specializes in fabrication of metal products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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