LL Flooring (previously known as Lumber Liquidators) has now signed an agreement with F9 Investments for the sale of the business. This news comes after the company recently announced it was closing all of its stores. Under the terms of the asset purchase agreement, F9 Investments will acquire 219 stores, inventory in those stores and in the company’s Sandston, Virginia, distribution center, LL Flooring’s intellectual property, and other company assets. Tom Sullivan, LL Flooring’s founder, runs F9 Investments and posted on LinkedIn that “Yellow and black is coming back.”
Charles Tyson, president and chief executive officer of LL Flooring, said, “We are pleased to have reached this agreement with F9 Investments for a going-concern sale following significant efforts by our team and advisors to preserve the business and maintain ongoing operations. As we move through the court-supervised process toward the approval and completion of this transaction, we remain committed to continuing to serve our valued customers and working closely with our vendors and partners.”
While LL Flooring had filed materials with the Bankruptcy Court on August 30, 2024, regarding the intent to pivot to a full liquidation of the business, the company was able to subsequently reach the asset purchase agreement with F9 Investments that will maintain the business as a going-concern, pending approval by the Bankruptcy Court.
During this process, LL Flooring continues to be operational. According to the company, the 219 continuing stores that are part of the asset purchase agreement, along with the website, are open and continuing to serve customers with few changes to store operations and policies.
LL Flooring also continues to work with Hilco Merchant Resources, LLC in store closing sales at 211 of its locations, including the recently initiated 117 store closings and the 94 store closings already in process that had been previously announced on August 11, 2014. These locations will remain open and serving customers through the store closing process.