Home Improvement Chain, LL Flooring, Is Closing Down Over 400 Stores

LL Flooring, formerly Lumber Liquidators, was founded by Tom Sullivan in 1993 and by 2020 had more than 400 retail locations throughout the U.S. and Canada, headed in Richmond, Virginia. Sadly, the company has announced its plans to close all retail locations. 

LL Flooring is “Liquidating”

Purportedly, LL Flooring filed for bankruptcy in recent weeks and has announced plans to close, leaving around 2,000 employees without jobs. As such, the current remaining locations are having liquidation sales, while the company is selling “individual assets.” The liquidation sales began September 6, alongside the company’s decision to stop taking orders. 

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LL Flooring Comments

“With a heavy heart, we must inform you that LL Flooring will begin winding down its business and closing all stores,” the company said in a statement, estimating the closure will take about 3 months. However, LL Flooring has assured they will fulfill any pre-existing orders.

Humble Beginnings

LL Flooring started as a small business selling surplus building materials. Not long after, they got a reputation for supplying various, and affordable, flooring options. While their specialty was hardwood flooring, they expanded and sold a variety of materials. These include solid hardwood, engineered hardwood, bamboo, cork, laminate, vinyl, and tile flooring. 

Expanding LL Flooring

Over time, LL Flooring began offering “flooring accessories” like underlays, adhesives, and tools. Later, LL Flooring expanded again. This time, offering services and resources to customers tackling DIY projects. The company has been forced to close all locations, but it’s not the only retailer doing so. 

Several Retailers Downsize

In contrast, numerous large-name retailers including Walmart, Foot Locker, and Big Lots have announced plans to close down several, if not all of their retail locations. 

List of Retailers to Close Stores in 2024:

• CVS
• Rite Aid
• Walmart 
• Target
• Macy’s
• Conn’s
• Express
• Family Dollar

The Reason for the Retail Shutdown

There are several reasons for LL Flooring and other retail closures including:

• Online shopping
• Losses after closing for Covid
• Losing customers to larger retailers 
• People working from home
• Home delivery services 
• Costly living expenses/inability to pay rising prices
• Disgruntled customers/being the topic of controversy
• Employee shortages 
• Crime/Theft
• Profit losses

Experts Say Retail Shopping Has Changed

According to experts, retail shopping as we know it is a thing of the past. Meanwhile, Terry Shook, a founding partner at consulting firm Shook Kelly, explains retail has to be reimagined before making a comeback. “Once [these cities] become true urban neighborhoods, then you will find retailing start to come back in different ways and forms,” she said. 

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Future Closures

Furthermore, it’s expected that over 45,000 more retail locations will close in the next 5 years. Some retailers are closing hundreds or thousands of locations, while others are only closing a few. For instance, CVS is closing 900 locations, reportedly, because of “changing populations and buying patterns.” 

Meanwhile, Family Dollar has plans to close around 600 locations by the end of 2024. Lastly, Nordstrom shut down 15 locations in 2023, and Walmart plans to close 6 locations in the near future. Perhaps most notably, Bed, Bath, and Beyond closed over 2,800 locations when it announced that Overstock.com had “adopted” the name, in 2023. 

Closures are Trending

Interestingly, it’s an ongoing trend as major cities across the U.S. have seen countless retailers close down. Since 2017, cities like San Francisco, Los Angeles, Seattle, Miami, and Chicago have seen a major decrease in locations, according to research from the JPMorgan Chase Institute.

In contrast, some have speculated a major contributor to the downfall of LL Flooring is how often it’s become the topic of controversy. For instance, LL Flooring faced several class action lawsuits for product quality issues including the use of formaldehyde. As a result, the company’s stock value plummeted and the company has struggled to bounce back. It’s likely that numerous factors played a role in the company’s decision to file for bankruptcy and close its retail locations but one thing is clear, retail shopping is becoming a thing of the past, while online shopping and home delivery services are becoming increasingly more popular. 

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