LL Flooring Holdings, Inc.: going-concern / distress — LL Flooring pivots to liquidation, sells distribution center for $104.75M in cash

LL Flooring Holdings, Inc.

Unable to reach stalking horse agreement for going-concern sale; filed notice to pursue Liquidation Pivot on Aug 30, 2024.
Subsidiary entered Purchase Agreement to sell Sandston, VA distribution center for $104.75M cash to SNA NE, LLC.
Amended Agency Agreement with Hilco to liquidate inventory at all remaining stores.
Company warns equity holders will likely receive little or no recovery in Chapter 11; stock now trades OTC under LLFLQ.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

LL Flooring Holdings, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-08-11).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2024-08-11

Exact text from the filing

on August 11, 2024, the Company, together with certain of its direct and indirect subsidiaries (collectively, the “ Debtors ”), filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware

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Source: SEC EDGAR

accession 0001193125-24-211525

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