LL Flooring Holdings, Inc. (OTC Pink: LLFLQ) has announced an agreement with F9 Investments for a going-concern sale as part of its ongoing Chapter 11 proceedings. Under the asset purchase agreement, F9 Investments will acquire 219 stores, their inventory, the company’s Sandston, Virginia distribution center, intellectual property, and other assets. The sale is expected to close by the end of September, pending Bankruptcy Court approval and other conditions.
Charles Tyson, President and CEO of LL Flooring, stated, “We’re pleased to have reached this agreement with F9 Investments, preserving the business and maintaining operations. Our team remains committed to serving customers and supporting our vendors and partners as we work through the court-supervised process.”
Before entering Chapter 11, LL Flooring undertook a thorough marketing process for its business, attracting significant interest. Though the company initially filed for liquidation on August 30, 2024, it later secured the going-concern sale agreement with F9 Investments, allowing the business to continue operations.
Throughout the Chapter 11 process, LL Flooring has continued normal operations at the 219 stores included in the sale, along with its online platform. Additionally, the company is working with Hilco Merchant Resources, LLC, to manage store closing sales at 211 other locations, including 117 newly announced closures and 94 previously announced in August. These stores will remain open through the closure process.
