LL Flooring Successfully Finalizes Acquisition with F9 Investments
LL Flooring Completes Sale to F9 Investments
LL Flooring Holdings, Inc. (“LL Flooring” or the “Company”) (OTC Pink: LLFLQ), has successfully completed the sale of its business to F9 Investments. This significant deal marks the transition of ownership involving 219 stores, their respective inventory, LL Flooring’s intellectual property, and additional company assets. As part of this transition, LL Flooring has also finalized the private sale of its Sandston distribution center.
Charles Tyson, President and Chief Executive Officer of LL Flooring, expressed his enthusiasm, stating, “We are pleased to have reached these value-maximizing sales to preserve the business and maintain ongoing operations. This marks the start of a new chapter for LL Flooring and we are working closely with F9 Investments to ensure a seamless transition for our customers. I would like to express my sincere gratitude to our associates for their hard work and dedication to serving our customers throughout this process.”
Post-Sale Operations
Following this successful sale, LL Flooring is collaborating with Hilco Merchant Resources, LLC, to manage store closing sales at various locations not included in the agreement with F9 Investments. These stores will continue to serve customers during the closing phase, ensuring a smooth transition. A detailed list of the closing stores can be found on the LL Flooring website.
Transitioning Customers
The completion of this acquisition not only paves the way for new operations but also emphasizes LL Flooring's commitment to its customers during this transformative time. The company is dedicated to maintaining high service standards and ensuring that customers experience minimal disruption.
Legal and Financial Support
LL Flooring has engaged the services of notable firms for legal and financial guidance during this transition. Skadden, Arps, Slate, Meagher & Flom LLP provides legal counsel, while Houlihan Lokey acts as the financial advisor. AlixPartners LLP serves as the restructuring advisor, assisting the company in navigating its new operational landscape.
Looking Ahead
As LL Flooring embarks on this new journey, it remains optimistic about its future under F9 Investments. The leadership team is enhancing operational efficiencies and exploring opportunities for growth and expansion, ensuring LL Flooring remains a strong contender in the flooring industry.
Frequently Asked Questions
What changes can customers expect after the acquisition?
Customers can expect a seamless transition with continued service and operations at existing store locations, even those that are closing.
How many stores are involved in the sale?
The sale includes the acquisition of 219 stores, along with their inventory and intellectual property.
What is the role of F9 Investments in this transition?
F9 Investments is taking over LL Flooring's business operations, ensuring continuity and potentially fostering growth within the company.
Who are the advisors assisting LL Flooring?
Legal advice is provided by Skadden, Arps, Slate, Meagher & Flom LLP, with financial advice from Houlihan Lokey. AlixPartners LLP is on board as the restructuring advisor.
What has the leadership expressed regarding the future of the company?
LL Flooring's leadership has voiced their commitment to maintaining operations and high standards of customer service during this transition period.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.