WOODBRIDGE, VA – A Virginia-based discount flooring manufacturer will close its Woodbridge location after filing for Chapter 11 bankruptcy.
LL Flooring Holdings, originally Lumber Liquidators, plans to close 94 stores. The clearance sale has begun.
The Woodbridge store at 14516 Potomac Mills Road is the only one in Virginia closing, as over 300 stores remain open across the U.S. Other Virginia locations include Chantilly, Fredericksburg, Hampton, Leesburg, Lorton, Lynchburg, Manassas, Norfolk, North Chesterfield, Richmond, Salem, Williamsburg, Virginia Beach, Harrisonburg, Christiansburg and Winchester.
The Chapter 11 bankruptcy filing means LL Flooring Holdings must restructure without liquidating all of its assets. After marketing its Sandston, Virginia, store and distribution center, the company says it is negotiating with bidders and could seek a sale of its business within weeks.
“Today’s move is intended to provide LL Flooring with additional timing and financial flexibility as we reduce our physical footprint and close certain stores while pursuing a sale of the remainder of the business as a going concern,” said Charles Tyson, president and CEO of LL Flooring, in a statement.
