F9 Brands, Inc., a division of F9 Investments, LLC, today announced it had signed an agreement, through an affiliate, with LL Flooring Holdings, Inc. whereby F9 Brands will acquire 219 stores, inventory in those stores and in LL Flooring’s Sandston, Virginia, distribution center, and will continue to operate the business as a going concern. LL Flooring has been in chapter 11 bankruptcy proceedings in Wilmington, Delaware, since August 11, 2024, and recently announced that it would be forced to liquidate all its assets and close its more than 400 stores nationwide. This transaction, spearheaded by Tom Sullivan, the founder of the company, keeps this iconic brand alive, more than 200 stores nationwide open and operating, and expects to preserve as many as 1,000 employee jobs. The transaction is expected to close by the end of September, subject to customary closing conditions, including approval of the sale by the bankruptcy court at a hearing scheduled for September 16, 2024.
LL Flooring Holdings, Inc, formerly known as Lumber Liquidators, was founded by Mr. Sullivan, the owner of F9 Investments, a private equity company which invests in clean energy, direct to consumer retail, and commercial and industrial real estate. Its F9 Brands division includes a portfolio of companies in the building products, home improvement and luxury home décor industries, including Cabinets To Go, LLC, the leading national retailer of cabinets, countertops and accessories.
Mr. Sullivan said, “We are pleased to have reached this agreement. We believe this acquisition will complement our Cabinets To Go business and provide greater opportunities for both retail companies to offer a broad line of products to our home improvement customers. We are especially pleased that we could step in and preserve the jobs of many of the employees of LL Flooring, a lot of whom have worked for the company for many years.”
F9 Investments is represented by Dentons US LLP, and advised with regard to the acquisition by Solomon Partners.
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