One of Home Depot’s competitors, LL Flooring, is closing down all of its stores. The company previously known as Lumber Liquidators is going out of business. This news comes after the company filed for bankruptcy three weeks ago.

The 30-year-old company failed to find a buyer. Thus, the stores will liquidate. There will be sales at the company’s remaining stores starting September 6. The closure should be complete in about 12 weeks and approximately 2,000 employees will be without jobs.

Founded in 1993 by Tom Sullivan, the company began as a small business selling surplus building materials but quickly grew into a prominent retailer known for its wide selection of affordable flooring options. Headquartered in Richmond, Virginia, LL Flooring had expanded its operations to include hundreds of retail stores across the U.S. and an extensive online presence.

LL Flooring specializes in hardwood flooring but has expanded its product offerings over the years to include a wide range of flooring materials. These include solid hardwood, engineered hardwood, bamboo, cork, laminate, vinyl, and tile flooring. The company also offers a variety of flooring accessories, such as moldings, underlays, and adhesives, which are essential for installation. Additionally, LL Flooring provides tools and services for customers who choose to install their floors themselves.

LL Flooring (formerly Lumber Liquidators) has faced several controversies over the years. These issues primarily revolved around product quality, safety, and environmental compliance. These incidents have attracted significant media attention, regulatory scrutiny, and legal action.

One of the biggest controversies surrounding LL Flooring occurred in 2015 when the company was accused of selling laminate flooring products containing unsafe levels of formaldehyde, known as a cancer causing agent. The issue came to light after a “60 Minutes” investigation revealed that some of the laminate flooring sourced from China had formaldehyde levels exceeding safety standards set by the California Air Resources Board (CARB).

The investigation led to a major public relations crisis for the company. Customers were concerned about potential health risks, and the company’s stock price plummeted. Numerous lawsuits followed, and LL Flooring faced regulatory investigations. Although the company initially denied the allegations, it eventually agreed to a settlement in which it offered refunds and replacement products to affected customers.

In 2013, LL Flooring faced allegations of illegally sourcing wood from protected forests in the Russian Far East, home to endangered species like the Siberian tiger. The U.S. Department of Justice launched an investigation, accusing the company of violating the Lacey Act, which prohibits the trade of illegally sourced wood products.

LL Flooring has faced several class action lawsuits over product quality issues. Aside from the formaldehyde scandal, customers have filed lawsuits alleging that certain flooring products were prone to defects, such as premature wear, cracking, and peeling. These legal challenges often claimed that the company misled customers about the durability and quality of its products

The controversies surrounding LL Flooring have also impacted its financial performance and leadership. Following these scandals, the company’s stock plummeted, and it faced increased scrutiny from investors and regulators. Several top executives, including the CEO, resigned or were replaced. The company underwent a rebranding, changing its name from Lumber Liquidators to LL Flooring in 2021.

LL Flooring, which filed for Chapter 11 bankruptcy just three weeks ago, has started closing 94 stores and was actively seeking a buyer. Although the company previously stated it was in “active negotiations with multiple bidders,” a recent update revealed that none of the offers included the required financing to maximize LL Flooring’s value.

According to CNN, in its latest statement, LL Flooring announced that selling individual assets, holding closing sales, and winding down operations would provide the best return for creditors.

“With a heavy heart, we must inform you that LL Flooring will begin winding down its business and closing all stores,” the company told customers. Orders already placed will be fulfilled within 30 days, but new installation appointments will cease after September 6.