Cash Poor LL Flooring to Sell Virginia Distribution Center
Richmond, VA, July 1, 2024-"LL Flooring Holdings on Friday said it may run out of cash in the third quarter and has started the sale process of its Virginia distribution center to improve its liquidity,” reports MarketWatch.
“The company said that it expects to move forward with negotiating with certain bidders after receiving several preliminary and second-round bids for the Sandston distribution center. However, there is no assurance that any deal will be made.
“In the same statement, LL said that its projected liquidity levels ‘may not be sufficient to meet the minimum excess availability threshold’ in the third quarter. The group is in talks with banks regarding additional liquidity, also without assurance that an agreement will be reached.”
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