Leslie's Pool Supplies filed voluntary prearranged Chapter 11 bankruptcy cases in federal court this week and said it will close 76 stores. The company said its remaining stores will stay open and fully operational while it restructures, and it expects to emerge from Chapter 11 in early 2027.
Jason McDonell on Leslie's Inc.
Jason McDonell said the filing marks an important milestone in the company's commitment to customers and the business. He also said, "With a stronger balance sheet and greater financial flexibility, Leslie’s can reinvest across the business to strengthen operating execution and deliver an even better experience for our customers, both in-store and online. Leslie’s is here to stay, and I am deeply grateful to our employees, customers, and partners for their continued support as we work to position Leslie’s for a strong future,"
Leslie's Inc. lender deal
Leslie's Inc. said it entered into a restructuring agreement with a group of its existing lenders before filing the bankruptcy cases. The agreement includes commitments for $90 million of new-money debtor-in-possession financing and $60 million of equity financing, and the company filed motions seeking approval of a separate $225 million DIP asset-based financing facility from its existing ABL lenders.
Store closures and customer programs
The company said all gift cards and loyalty program benefits will continue to be honored during the Chapter 11 process. That means the restructuring is moving ahead while the chain keeps serving customers through its physical stores and digital platforms, even as it trims its store base by 76 locations.
For customers, the immediate practical question is which stores are closing and when. Leslie's has tied the closures to the restructuring, but it has not broken out the locations in the facts provided here, so the store list is the item to watch as the court process advances.
