Leslie's, Inc., also known as Leslie's Pool Supplies, Service and Repair, (NASDAQ: LESL) is a national leader in the pool supply industry. Established in 1963 and based in Phoenix, Arizona, it is the largest direct to consumer brand in the U.S. pool and spa care industry, with more than 900 stores across 35 states in America. Leslie's offers an expansive range of quality products necessary for the maintenance and enjoyment of pools and spas, from chemicals, cleaning devices, equipment, parts, recreational and safety products.
Since its inception, the company has aimed to provide premier value, knowledge, and customer service for individuals in pool care. It is known for its innovative and customer-friendly technologies that make pool maintenance easier. The brand also offers professional on-site equipment installation and repair services through its network of certified technicians.
In 2020, Leslie's, Inc. went public with its listing on NASDAQ. The initial public offering raised significant funds that the company opted to use for transitioning into a more extensive digital platform, strengthening its e-commerce capabilities, and overall business expansion.
The success of Leslie's, Inc. is not only attributed to its broad, high-quality product offerings, but is also a reflection of its commitment towards comprehensive solutions for pool and spa care. The company's dedication to customer satisfaction is embodied in their 'Experts at Your Service' program where industry expert's knowledge and assistance are readily available to customers.
Moreover, Leslie’s has a robust online presence which provides advice, resources, and supports online shopping, with the option for in-store pick-up or home delivery, ensuring customer needs are catered to both digitally and physically.
In the increasingly growing pool care industry, Leslie's, Inc. has built an unparalleled reputation and has established itself as a go-to destination for personal and commercial pool and spa needs. It continues to innovate and expand, staying on top of trends to ensure it offers cutting-edge, user-friendly products and services. The strong brand presence and customer loyalty make it a standout in its market sector.
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Leslie's Inc., a Phoenix-based company, has filed for Chapter 11 bankruptcy protection in Texas and announced the closure of 76 retail stores. The company stated that it might close as many as 200 stores nationwide as part of its bankruptcy proceedings. One of the affected locations, Leslie's Pool Supplies at 44th Street and Thomas Road in Phoenix, closed on September 30.
Leslie's (NASDAQ: LESL) shares surged over 23% after hours following the announcement of a restructuring support agreement with lenders. This deal is expected to reduce the company's funded debt by approximately $685 million and includes new financing. Despite the positive after-hours trading, Leslie's has filed for Chapter 11 bankruptcy, will close 76 stores, and existing lenders are expected to hold majority ownership post-emergence.
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Pool supplier Leslie's Inc. has filed for Chapter 11 bankruptcy, planning to cut up to 90% of its debt and close 76 of its more than 900 retail stores. The company aims to emerge from bankruptcy by early 2027 with a stronger balance sheet, despite reporting an 8.4% decline in sales during its peak season due to unfavorable weather and aggressive competitor pricing. Leslie's is seeking $90M in new financing to fund operations through the restructuring.
Leslie's, a swimming pool retailer, has filed for Chapter 11 bankruptcy in Houston to significantly reduce its debt by approximately 90%. The company has reached an agreement with over 80% of its existing lenders to cut $685 million of funded debt in exchange for ceding control of the business. This move comes as the company plans to close 76 stores to cut costs due to fading pandemic-era demand.