Despite a last-minute deal that will keep hundreds of LL Flooring stores open, the company’s stores in Marion and Davenport are still set to close under the terms of a previously-announced Chapter 11 bankruptcy filing.
Store closing salaes are under way at two LL Flooring stores in Iowa, in the Collins Road Square at 1418 Twixt Town Road in Marion and at 321 West Kimberly Road in Davenport.
The stores were operated under the Lumber Liquidators brand before being rebranded as LL Flooring in 2022.
A store in Urbandale will remain open as part of an agreement with F9 Investments for a going-concern sale of the business. Under the asset purchase agreement, announced Monday, F9 Investments will acquire 219 stores, inventory in those stores and in the Company’s Sandston, Virginia, distribution center, LL Flooring’s intellectual property and other company assets. Those stores are expected to remain open as part of the deal.
The transaction is expected to be completed by the end of September, subject to U.S. Bankruptcy Court approval.
According to a Business Wire report, LL Flooring also continues to work with Hilco Merchant Resources, LLC, to assist the company in store closing sales at 211 of its locations, including the recently-initiated 117 store closings and the 94 store closings already in process that had been previously announced Aug. 11. These locations will remain open and serving customers through the store closing process.
LL Flooring is one of the country’s leading specialty retailers of hard-surface flooring, with more than 300 stores nationwide.
