LL Flooring to close 94 stores as it files for bankruptcy

Core Viewpoint - LL Flooring is filing for Chapter 11 bankruptcy and plans to close over 90 of its stores while pursuing a going-concern sale of its business [1][2]. Group 1: Bankruptcy Filing - The company filed for relief under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware [1]. - CEO Charles Tyson stated that the decision to initiate Chapter 11 was made after comprehensive efforts to enhance liquidity in a challenging macro environment [1]. Group 2: Store Closures and Operations - LL Flooring has initiated store closing sales at 94 of its over 300 locations, which will remain open during the closing process [2]. - The rest of the physical store portfolio and the online marketplace will continue to operate with few changes to store operations and policies [2]. Group 3: Financial Support - The company has secured $130 million in debtor-in-possession financing from a bank group led by Bank of America [4].