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LL Flooring Holdings (OTC Pink: LLFLQ) has signed an agreement with F9 Investments for a going-concern sale of its business as part of its Chapter 11 process. The asset purchase agreement includes the acquisition of 219 stores, inventory, intellectual property, and other assets. The transaction is expected to close by the end of September, subject to Bankruptcy Court approval.
The company will continue to operate normally, serving customers with a broad range of flooring products both online and in stores. LL Flooring is also proceeding with previously announced store closings at 211 locations. The agreement with F9 Investments aims to preserve the business and maintain ongoing operations, avoiding a full liquidation that was previously considered.
LL Flooring Holdings, Inc. (NYSE: LL) has received notice from the New York Stock Exchange (NYSE) that its common stock will be delisted and trading suspended immediately. This decision follows the company's voluntary filing for Chapter 11 bankruptcy protection on August 12, 2024. The NYSE determined that LL Flooring no longer meets the listing criteria outlined in Section 802.01D of the NYSE Listed Company Manual.
LL Flooring does not plan to appeal this decision, and the delisting process will proceed once all applicable procedures are completed. Despite the NYSE delisting, the company's stock is expected to continue trading on the OTC market under the symbol "LLFLQ".
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