New York CNN —
LL Flooring, formerly known as Lumber Liquidators, has filed for bankruptcy and will close 94 of its stores across the United States.
But the retailer is not liquidating itself immediately, as the company recently announced that it had entered Chapter 11, which allows for a re-organization rather than a wind-down of the business. Instead, LL Flooring will use the process to seek a sale of the 30-year-old business, which said it’s in “active negotiations with multiple bidders,” according to a press release.
Major furniture retailers are continuing to struggle after a pandemic
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