Major Retailer Calls It Quits: Texas To Lose Dozens of Locations

LL Flooring, formerly Lumber Liquidators is getting... basically liquidated.

LL Flooring has declared bankruptcy, and after failing to find a buyer, it is closing all stores, including dozens throughout Texas.

In its Chapter 11 filing, LL Flooring disclosed that total debts amounted to more than $416 million as of July 31, compared to assets of just over $501 million.

This "winding down of operations" is happening less than a month after the Chapter 11 filing.

Closing sales have already begun at hundreds of locations, and according to the retailer, the closures should be complete in 12 weeks or so.

It might be a good time to save big on flooring for consumers who are quick to the sales.

However, different locations will follow slightly different timelines.

Earlier this year LL Flooring had over 400 locations and about 1,970 employees, most of whom were full-time. That is a massive loss of jobs.

LL Flooring rebranded from Lumber Liquidators in the years following a 60 minutes exposé that revealed the company was selling flooring manufactured in China with dangerous levels of formaldehyde, a chemical known to cause several rare cancers.

As a result, Lumber Liquidators paid $36 million dollars to settle two class-action lawsuits. However, it was, "declines in foot traffic and weak demand" that led to the company's ultimate demise.

LL Flooring is not alone- many other retailers have closed underperforming locations or otherwise majorly scaled back operations. However, most of these companies are remaining afloat with some stores or as online-only companies.

It appears that LL Flooring is gone for good- and with it, nearly 2000 full-time jobs, many of which were held by our fellow Texans.