Leslie's Files for Chapter 11 Bankruptcy
Leslie’s is reportedly preparing to file for Chapter 11 bankruptcy and hand over control of the business to lenders who are providing ~$100M in financial support. According to Bloomberg, the company will declare bankruptcy as soon as next week. The move comes amid ongoing financial difficulties at Leslie's, a major U.S. retailer known for its home goods and furniture offerings. The Chapter 11 filing is expected to allow the company to restructure under creditor control while receiving $100 million in support from lenders.
Topics: debt restructuring retail